Eric Glyman: evaluation

Transcript context

…But isn't that increasingly the scale? It is. And I think that you're right in that at the very beginning of the company, the answer was very easy of like, look, our cost of capital is nowhere close to a bank's. The interchange that we could make is nowhere close to it. We have all the disadvantages of scale. And the only thing that we could do to compete with these people was everything was slow. At the bank that I worked at before, it was hard to ship things. We need to move fast, we need to have this emphasis around velocity to ship product and just kind of blitzkrieg faster than maybe others could respond. What it's evolved into and I think is today probably the largest point of differentiation at the meta level between Ramp and maybe the financial service providers that we compete with is they sell money and we sell time. They'll sell you a loan at a lower cost of capital. Rewards at wherever they set it. We will sell your expenses. Done. And so are you naturally skeptical of this idea because it’s selling money rather than selling time?…

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