Aidan Herderschee of the Institute for Advanced Study continues a three-part review of the BFSS conjecture, the proposal by Banks, Fischler, Shenker, and Susskind that a matrix quantum mechanics of D0-branes captures the full nonperturbative dynamics of M-theory in the light-cone frame. Recorded as part of the Institute's Prospects in Theoretical Physics 2026 program, this installment builds on the earlier two sessions, working through the technical machinery needed to connect the matrix model's degrees of freedom to eleven-dimensional supergravity and M-theory objects like gravitons and membranes. Herderschee moves through calculations on the blackboard, addressing open questions about the conjecture's precise regime of validity and recent progress in testing it against supergravity predictions. The talk assumes graduate-level familiarity with string theory and matrix models, aimed at researchers already tracking the subject rather than newcomers, and runs just over an hour.