How do Lithic's primitives set it apart from the Gen 2.5 to Gen 3 evolution and change what's possible in card issuing?

I think it comes down to the business model. It’s this whale hunting-esque set-up where you’ve effectively got to close the next Cash App, and if you do that, you’re great, you’re set for the next couple years. If you don’t, it doesn’t really matter. If you’ve oriented the whole business -- your compensation structure, your engineering, your product organizations -- to not prioritize self-serve, then you can be better, faster and cheaper than Galileo and ITC, but you’re fundamentally playing the same game.

For us, the bet starts with card issuance. We think of ourselves as moving beyond card issuance over time, but card issuance is really the first primitive. Starting with card issuance to go to market, the strategy is, “Yes, we will sign enterprise deals, and we will do that as needed,” but at the end of the day, it comes down to being committed to self-serve as a business and to expanding that. When we talk about accessibility, that’s really what it is -- this notion of self-serve PLG. People talk about it all day, and the reason why it’s hard is you’re having to balance that and make a conscious investment. It requires organizational discipline and commitment.