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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 7 Nov 2018
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    A thing that periodically blows my mind: one of the Very Serious rituals of capitalism is the quarterly earnings conference call, where 50+ very high compensated people controlling or influencing billions of dollars hop on... a POTS service which breaks quite a bit.

    9:04 AM - 7 Nov 2018
    • 6 Retweets
    • 105 Likes
    • Etienne Neveu bayes base bays based Emanuil Jim paul shinn Matjaž Leonardis Patrick Collison Netsensei Screwtape
    6 replies 6 retweets 105 likes
      1. New conversation
      2. Patrick McKenzie‏ @patio11 7 Nov 2018
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        Those are the approximately the most expensive phone calls in the world that don't result in nuclear missile launches as a reasonable alternate communication channel, both in terms of TCO and in what they directly cost the firms. Why is this so bad? Why calls?

        4 replies 2 retweets 25 likes
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      3. Patrick McKenzie‏ @patio11 7 Nov 2018
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        (Can Slack get away with doing theirs as Quarterly Earnings Slack Chats? In addition to being a great dogfood opportunity text chat improves upon the conference call in every way for asking very precise questions and getting very precise answers in a way which will be parsed.)

        2 replies 0 retweets 22 likes
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      4. Patrick McKenzie‏ @patio11 7 Nov 2018
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        (Presuming that there is a human slackbot doing the usual curation and recognizing next folks to ask a question, etc etc.)

        1 reply 0 retweets 8 likes
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      5. Patrick McKenzie‏ @patio11 7 Nov 2018
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        Now I'm really curious whether @twilio hosts their own earning calls, which simultaneously seems like the sort of thing that all the dangerous professionals would be very bearish on and that Twilions would say "Draw the compliance owl; we're doing it anyway."

        2 replies 1 retweet 28 likes
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      6. End of conversation
      1. tim nutt‏ @twnutt 7 Nov 2018
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        Replying to @patio11

        nobody uses POTS anymore, it's almost entirely VOIP

        0 replies 0 retweets 6 likes
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      1. New conversation
      2. Matjaž Leonardis‏ @MatjazLeonardis 7 Nov 2018
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        Replying to @patio11

        "Good day ladies and gentlemen. Welcome to Q3 financial results webcast. At this time all participants are in a listen only mode. If you require assistance during the call press star-0 on your touchdown telephone" Surreal every time.

        1 reply 0 retweets 2 likes
      3. Carlos De la Guardia‏ @dela3499 7 Nov 2018
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        Replying to @MatjazLeonardis @patio11

        I’ve only ever listened to the quarterly earnings call for Tesla (on YouTube, at that). Which companies do you follow?

        0 replies 0 retweets 1 like
      4. End of conversation
      1. Justin Poirier‏ @justinpoir 7 Nov 2018
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        Replying to @patio11

        I used to provide IT support for earnings calls at a Fortune 500. My job was to sit in the room and make sure the projector and laptop didn't screw up during the call because if even a screensaver popped up the executives would be unable to handle it

        0 replies 0 retweets 2 likes
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      1. Jason McCay‏ @jasonmccay 7 Nov 2018
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        Replying to @patio11

        It's like the time when the presidency was still portrayed via radio ... they don't want to cross the chasm to a new world because that inserts new dimensions / relinquishes control of the narrative.

        0 replies 0 retweets 1 like
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      1. tommy boy‏ @tomkarlo 7 Nov 2018
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        Replying to @patio11

        IIRC these are actually hosted and managed by outside services selected by investor relations, and there are significant compliance issues involved that just make it easier to outsource. Not saying it's optimal.

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