Skip to content
By using Twitter’s services you agree to our Cookies Use. We and our partners operate globally and use cookies, including for analytics, personalisation, and ads.

This is the legacy version of twitter.com. We will be shutting it down on June 1, 2020. Please switch to a supported browser, or disable the extension which masks your browser. You can see a list of supported browsers in our Help Center.

  • Home Home Home, current page.
  • About

Saved searches

  • Remove
  • In this conversation
    Verified accountProtected Tweets @
Suggested users
  • Verified accountProtected Tweets @
  • Verified accountProtected Tweets @
  • Language: English
    • Bahasa Indonesia
    • Bahasa Melayu
    • Català
    • Čeština
    • Dansk
    • Deutsch
    • English UK
    • Español
    • Filipino
    • Français
    • Hrvatski
    • Italiano
    • Magyar
    • Nederlands
    • Norsk
    • Polski
    • Português
    • Română
    • Slovenčina
    • Suomi
    • Svenska
    • Tiếng Việt
    • Türkçe
    • Ελληνικά
    • Български език
    • Русский
    • Српски
    • Українська мова
    • עִבְרִית
    • العربية
    • فارسی
    • मराठी
    • हिन्दी
    • বাংলা
    • ગુજરાતી
    • தமிழ்
    • ಕನ್ನಡ
    • ภาษาไทย
    • 한국어
    • 日本語
    • 简体中文
    • 繁體中文
  • Have an account? Log in
    Have an account?
    · Forgot password?

    New to Twitter?
    Sign up
patio11's profile
Patrick McKenzie
Patrick McKenzie
Patrick McKenzie
@patio11

Tweets

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

Tweets

  • © 2020 Twitter
  • About
  • Help Center
  • Terms
  • Privacy policy
  • Imprint
  • Cookies
  • Ads info
Dismiss
Previous
Next

Go to a person's profile

Saved searches

  • Remove
  • In this conversation
    Verified accountProtected Tweets @
Suggested users
  • Verified accountProtected Tweets @
  • Verified accountProtected Tweets @

Promote this Tweet

Block

  • Tweet with a location

    You can add location information to your Tweets, such as your city or precise location, from the web and via third-party applications. You always have the option to delete your Tweet location history. Learn more

    Your lists

    Create a new list


    Under 100 characters, optional

    Privacy

    Copy link to Tweet

    Embed this Tweet

    Embed this Video

    Add this Tweet to your website by copying the code below. Learn more

    Add this video to your website by copying the code below. Learn more

    Hmm, there was a problem reaching the server.

    By embedding Twitter content in your website or app, you are agreeing to the Twitter Developer Agreement and Developer Policy.

    Preview

    Why you're seeing this ad

    Log in to Twitter

    · Forgot password?
    Don't have an account? Sign up »

    Sign up for Twitter

    Not on Twitter? Sign up, tune into the things you care about, and get updates as they happen.

    Sign up
    Have an account? Log in »

    Two-way (sending and receiving) short codes:

    Country Code For customers of
    United States 40404 (any)
    Canada 21212 (any)
    United Kingdom 86444 Vodafone, Orange, 3, O2
    Brazil 40404 Nextel, TIM
    Haiti 40404 Digicel, Voila
    Ireland 51210 Vodafone, O2
    India 53000 Bharti Airtel, Videocon, Reliance
    Indonesia 89887 AXIS, 3, Telkomsel, Indosat, XL Axiata
    Italy 4880804 Wind
    3424486444 Vodafone
    » See SMS short codes for other countries

    Confirmation

     

    Welcome home!

    This timeline is where you’ll spend most of your time, getting instant updates about what matters to you.

    Tweets not working for you?

    Hover over the profile pic and click the Following button to unfollow any account.

    Say a lot with a little

    When you see a Tweet you love, tap the heart — it lets the person who wrote it know you shared the love.

    Spread the word

    The fastest way to share someone else’s Tweet with your followers is with a Retweet. Tap the icon to send it instantly.

    Join the conversation

    Add your thoughts about any Tweet with a Reply. Find a topic you’re passionate about, and jump right in.

    Learn the latest

    Get instant insight into what people are talking about now.

    Get more of what you love

    Follow more accounts to get instant updates about topics you care about.

    Find what's happening

    See the latest conversations about any topic instantly.

    Never miss a Moment

    Catch up instantly on the best stories happening as they unfold.

    1. Patrick McKenzie‏ @patio11 13 Feb 2019
      • Report Tweet
      • Report NetzDG Violation

      Interesting thought from @tylertringas , whose EarnestCapital launched today. https://earnestcapital.com/ pic.twitter.com/hBStDpqDNJ

      3 replies 14 retweets 78 likes
      Show this thread
      Patrick McKenzie‏ @patio11 13 Feb 2019
      • Report Tweet
      • Report NetzDG Violation

      It takes 3 million dollars to open a McDonalds. 3 million dollars. Three MILLION dollars. Do you know how much SaaS you can write with $3 million? It is a lot of SaaS.

      8:45 PM - 13 Feb 2019
      • 23 Retweets
      • 109 Likes
      • Sumaer Jolly yannschaub Tiago Duarte Matt Zagig Yragerne Josh Pschorr Wojciech Gabryś HillCitizen Bill Stewart
      8 replies 23 retweets 109 likes
        1. New conversation
        2. Patrick McKenzie‏ @patio11 13 Feb 2019
          • Report Tweet
          • Report NetzDG Violation

          The United States has thriving ecosystems which ensure there is sufficient capital allocated to McDonalds, such that if a neighborhood would be well-served by having not-phenomenal burgers available at a low price point, it will get a McDonalds funded trivially.

          1 reply 1 retweet 14 likes
          Show this thread
        3. Patrick McKenzie‏ @patio11 13 Feb 2019
          • Report Tweet
          • Report NetzDG Violation

          The US does not have thriving ecosystems devoted to producing small software businesses, which can *very plausibly* create at least as much value in the world as an individual McDonalds location.

          3 replies 6 retweets 37 likes
          Show this thread
        4. Patrick McKenzie‏ @patio11 13 Feb 2019
          • Report Tweet
          • Report NetzDG Violation

          I'm glad that there are several teams working on solutions for this, and eagerly looking forward to reading about which experiments work.

          1 reply 1 retweet 15 likes
          Show this thread
        5. Patrick McKenzie‏ @patio11 13 Feb 2019
          • Report Tweet
          • Report NetzDG Violation

          One of the conversations I have a lot in Silicon Valley is "Could $10k do anything at the margin? Pfft, if you've been working at AppAmaGooBookSoft, that's tiddliwinks." And I remember my budget for my first business was $60, and I had ~$2k in checking on day I went full-time.

          4 replies 5 retweets 53 likes
          Show this thread
        6. Patrick McKenzie‏ @patio11 13 Feb 2019
          • Report Tweet
          • Report NetzDG Violation

          It feels to me like there are probably opportunities here, of the general shape "Wow it's freaking amazing that somebody went so far for so little at the margin; how did nobody see that before?"

          3 replies 1 retweet 21 likes
          Show this thread
        7. End of conversation
        1. New conversation
        2. Jason Cohen‏Verified account @asmartbear 13 Feb 2019
          • Report Tweet
          • Report NetzDG Violation
          Replying to @patio11 @mijustin @tylertringas

          • almost no one at microconf has $2m revenue • living rate after 10 years is much better • comes with operating manual that works Potential upside is lower, but risk-adjusted return is maybe 10x better. No comparison.

          2 replies 0 retweets 4 likes
        3. Patrick McKenzie‏ @patio11 13 Feb 2019
          • Report Tweet
          • Report NetzDG Violation
          Replying to @asmartbear @mijustin @tylertringas

          I don't think allocators of capital are irrational to prefer backing instances of McDonalds to backing small software businesses, but FWIW, I think I'd figuratively take the other side of the bet regarding your first point and literally am the other side of the bet generally ;)

          1 reply 0 retweets 1 like
        4. 1 more reply
        1. New conversation
        2. Brian Breslin‏ @brianbreslin 13 Feb 2019
          • Report Tweet
          • Report NetzDG Violation
          Replying to @patio11 @tylertringas

          But what % of saas businesses generate $2m+ per year? Throwing off $300k+ to the owners annually

          2 replies 0 retweets 1 like
        3. Patrick McKenzie‏ @patio11 13 Feb 2019
          • Report Tweet
          • Report NetzDG Violation
          Replying to @brianbreslin @tylertringas

          I just bought my tickets for my annual trip to MicroConf, which is a couple of hundred geeks who quietly run the businesses that a lot of smart capital allocators don't believe possibly exist in the world. I strongly disbelieve everyone comes to MicroConf.

          0 replies 0 retweets 4 likes
        4. End of conversation
        1. New conversation
        2. Amy "Social Distancing" Hoy‏ @amyhoy 13 Feb 2019
          • Report Tweet
          • Report NetzDG Violation
          Replying to @patio11

          whoa shit it’s really that much?

          1 reply 0 retweets 0 likes
        3. Patrick McKenzie‏ @patio11 13 Feb 2019
          • Report Tweet
          • Report NetzDG Violation
          Replying to @amyhoy

          According to their franchise disclosure docs its on the order of $2 million and then you need operating capital during the stabilization period; I rounded up. Surprising, right.

          1 reply 0 retweets 4 likes
        4. 1 more reply

      Loading seems to be taking a while.

      Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.

        Promoted Tweet

        false

        • © 2020 Twitter
        • About
        • Help Center
        • Terms
        • Privacy policy
        • Imprint
        • Cookies
        • Ads info