The central economic risk: bespoke integration wearing the clothes of reusable infrastructure.
Implementation effort falls while reusable software and profiles rise. Deployment four is mostly configuration.
Every customer remains a project. Revenue may grow; the infrastructure thesis does not.
This is the one measurement that cannot be reconstructed later. If deployment hours are not recorded from the first engagement, the question stays permanently open.
Track the portion of every deployment that becomes reusable.
Founder hours should fall. Deployment hours should fall for comparable work. New core code should approach zero. Reusable profiles, connectors, fixtures and software should rise. Recurring software gross margin should improve after repeat deployment.
If the pattern does not appear, the company should not hide the operating burden inside a software label.
The native reading. Claim status, evidence burden, proof gates, falsifiers, contradictions, capital-to-proof, governance, downside, and explicit reasons to stop or narrow the thesis.