Some realistic models of neural spiking take into account spike timing, yet the practical relevance of spike timing is often unclear. In Eugene Izhikevich’s model, timing plays a crucial role by allowing for the natural formation of polychronous circuits. In such circuits, individual elements may figure in a number of distinct assemblies, their role in each determined by their timing relative to other neurons. I show that this reflects a distinct organizational principle from notions of pluripotency, redundancy, or reuse and argue that properly understanding this phenomenon requires a shift to a time-sensitive, process-based view of computation.