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patio11's profile
Patrick McKenzie
Patrick McKenzie
Patrick McKenzie
@patio11

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Patrick McKenzie

@patio11

I work for the Internet, at @stripe, mostly on accelerating startups. Opinions here are my own.

東京都 Tokyo
kalzumeus.com
Joined February 2009

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    Patrick McKenzie‏ @patio11 10 Jun 2018
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    "But X already exists!" isn't even really a barrier for startups on the rocket-ship trajectory (look in e.g. email marketing), to say nothing of companies which are not. Your friendly local dentist is not devastated that someone else has filled cavities before; why should you be.

    4:25 PM - 10 Jun 2018
    • 66 Retweets
    • 320 Likes
    • Kullback–Leibler distancing Tom Collett Nate P. Nathan Broadbent Timo Mihaljov Bosschick 👑 💭 Swarnava Sengupta 🦊 The Almarty
    6 replies 66 retweets 320 likes
      1. New conversation
      2. Patrick McKenzie‏ @patio11 10 Jun 2018
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        I also don't think novelty is the primary value add of most companies; if it were, we'd be spending *a lot* more of our actual and figurative budgets on core R&D. The mission is also e.g. causing adoption, which counsels differentiation in feature set, marketing, segment, etc.

        1 reply 9 retweets 47 likes
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      3. Patrick McKenzie‏ @patio11 10 Jun 2018
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        (You'll note that the people who are most likely to say "X is uninteresting because it is functionally equivalent to an offering that already exists" are a) artisans who b) have a business structured functionally identical to thousands of other providers to c) sell *money*.)

        2 replies 7 retweets 40 likes
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      4. Patrick McKenzie‏ @patio11 10 Jun 2018
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        "Who's that a reference to?" Venture capitalists, whose primary customers are limited partners (LPs = sources of the money), and to whom they can express at florid length how their firm with a very similar product to many others is actually quite differentiated, thank you.

        4 replies 5 retweets 40 likes
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      5. End of conversation
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      2. Scott Cale‏ @scottcale 11 Jun 2018
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        Replying to @patiopm11 @patio11

        As far as I can recall, you have been relentlessly bearish on cryptocurrency. Did I misunderstand your stance? If not, then why are you promoting it now?

        1 reply 0 retweets 0 likes
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      2. Ryan Florence‏ @ryanflorence 10 Jun 2018
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        Replying to @patio11 @sehurlburt

        One dentist can’t supply the entire market like software can with the infrastructure we have now. But yes, agree with you not to freak out about competition 🤗

        1 reply 0 retweets 12 likes
      3. Swizec Teller‏ @Swizec 10 Jun 2018
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        Replying to @ryanflorence @patio11 @sehurlburt

        One startup can rarely supply the entire market. Case in point: Email marketing. Plenty of people switching between MailChimp, Drip or ConvertKit just because of what kind of customer they focus on. Even though all 3 just "Help you send email to your users"

        2 replies 0 retweets 8 likes
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      2. Omri Reis‏ @OmriReis 10 Jun 2018
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        Replying to @patio11

        Last to market often wins all, there’s ample evidence for that.

        2 replies 0 retweets 3 likes
      3. Abstract Monkey‏ @AbstractMonkey9 10 Jun 2018
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        Replying to @OmriReis @patio11

        Another way of putting it: "when something's missing, it's always in the last place you look!". Well yeah, because usually when I find something, I stop looking

        1 reply 0 retweets 6 likes
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      2. Abstract Monkey‏ @AbstractMonkey9 10 Jun 2018
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        Replying to @patio11

        But Peter Thiel says I should be striving for a monopoly.

        1 reply 0 retweets 2 likes
      3. Adam Mackintosh‏ @agm1984 10 Jun 2018
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        Replying to @AbstractMonkey9 @patio11

        oligopolies are good too :)

        1 reply 0 retweets 3 likes
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