A fundamental fact about Riemann surfaces is that they degenerate in a specific pattern — along thin annuli or wide rectangles. As it was demonstrated by W. Thurston in his realization theorem, we can often understand the dynamical system by establishing a priori bounds (a non-escaping property) in the near-degenerate regime. Similar ideas were proven to be successful in the Renormalization Theory of the Mandelbrot set. We will start the talk by discussing a dictionary between Thurston and Renormalization theories. Then we will proceed to neutral renormalization associated with the main cardioid of the Mandelbrot set. We will show how the Transcendental Dynamics naturally appear on the renormalization unstable manifolds. In conclusion, we will describe uniform a priori bounds for neutral renormalization — joint work with Misha Lyubich.