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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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    1. 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.

      6 replies 66 retweets 320 likes
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    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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      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.

      4:31 PM - 10 Jun 2018
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      • Philip Crosby Associates marls Jeremy Jay Kim 🐇 Ray Lillywhite Stephanie Hurlburt Sumukh Sridhara Jeremy Diamond mmnjug™
      4 replies 5 retweets 40 likes
        1. Jason 'Test Test Test' Huggins  ☣️‏ @hugs 10 Jun 2018
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          Replying to @patio11

          And don't get me started on how a VC firm is the ultimate "lifestyle business"...

          0 replies 0 retweets 2 likes
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        2. Kevin Riggle‏ @kevinriggle 10 Jun 2018
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          Replying to @patio11

          Someone on Twitter’s ML/fraud team is asleep at the switch. “Different accounts with the same profile picture replying to each other” is the stupidest possible signal and would weed out 100% of these cryptocurrency scammers

          1 reply 0 retweets 2 likes
        3. Kevin Riggle‏ @kevinriggle 10 Jun 2018
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          Replying to @kevinriggle @patio11

          I’m sure this is actually like a Big Data problem and Twitter’s Big Data is like, actually Big

          0 replies 0 retweets 0 likes
        4. End of conversation
        1. Dan Kleiman‏ @Dan_Kleiman 10 Jun 2018
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          Replying to @patio11

          Unreal...twitter just loads the crypto spammer replies right in to your thread 😳pic.twitter.com/KbvJdujivw

          0 replies 0 retweets 1 like
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        1. ( ⌨️  🐒)‏ @ollekullberg 11 Jun 2018
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          Replying to @patio11

          Maybe this is not what you need to hear but after some time on both sides my understanding of the VC business is that you are better off without its $. You don't make money right away? Give up. Need $ for scaling? Don't scale. Yes Facebook used VC $. But you shouldn't.

          0 replies 0 retweets 0 likes
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