Explain at Three Levels

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Explain {{topic}} at three levels of complexity.

Level 1 — ELI5: simple analogy, everyday language, no jargon. Max 3 sentences.
Level 2 — Informed beginner: assume I know the basics of {{field}}; use proper
terms but define them. 1–2 paragraphs.
Level 3 — Practitioner: assume I work in {{field}} and need practical
implications, trade-offs, and the state of the art. 2–3 paragraphs.

After all three, give me 3 common misconceptions and one analogy that makes it
click.