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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 24 Feb 2019
      • Report Tweet
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      Patrick McKenzie Retweeted Ariel Greenwood

      "How much would a generically smart liberal arts graduate know about this subject within 2 weeks of hearing it existed?" successfully predicts about 98% of articles. (One can trivially cite the 2%, but they're not labeled "This is the one today which isn't mostly winging it.")https://twitter.com/greenwoodae/status/1099832077577379840 …

      Patrick McKenzie added,

      Ariel Greenwood @greenwoodae
      It may be a good idea to assume that any topic receiving occasional mainstream coverage in a publication like NYT, etc. is at least 10x more complex than is represented. If one wants to appear intelligent, cite the article; but to gain understanding, talk to its subjects.
      17 replies 105 retweets 485 likes
      Show this thread
      Patrick McKenzie‏ @patio11 24 Feb 2019
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      What percentage of articles written about, say, HFT were written by someone who could succeed at this challenge: "Draw me an order book. Any order book."

      5:59 PM - 24 Feb 2019
      • 7 Retweets
      • 108 Likes
      • Tushant Jha David Ernst genericUser26 Swimbeast_1🌐 Baz @micahstubbs Conflated Automatons paul shinn C
      4 replies 7 retweets 108 likes
        1. Patrick McKenzie‏ @patio11 25 Feb 2019
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          Related questions that would just be mean: “How many order books are there for Google shares? Within an order of magnitude is fine.”, “A retail investor does a market sell for five shares. Which order book is impacted and how?” “Same question, institutional investor, limit, 100k”

          3 replies 2 retweets 33 likes
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        2. Jesse Powell‏ @jespow 24 Feb 2019
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          Replying to @patio11

          Reminds me of that article on Bloomberg written by the journalist covering "market structure" in which he identifies "manipulation" of the stable coin markets, evidenced by the highly suspect and inexplicable lack of volatility.

          1 reply 1 retweet 6 likes
        3. Patrick McKenzie‏ @patio11 24 Feb 2019
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          Replying to @jespow

          To be fair, stablecoins *should* be volatile. The fact that they aren't is interesting. ("That defeats the purpose." Kinda, but zero coupon bonds don't stop being exposed to all the usual bond risks just because you call them coins.)

          0 replies 0 retweets 4 likes
        4. End of conversation
        1. New conversation
        2. Karen Kommerce‏ @cryptoecongames 24 Feb 2019
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          Replying to @patio11

          I can draw an order book but I will not be able to explain HFT.

          1 reply 0 retweets 0 likes
        3. ttyS1‏ @ttyS1 25 Feb 2019
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          Replying to @cryptoecongames @patio11

          Check out "Flash boys" then.

          0 replies 0 retweets 0 likes
        4. End of conversation
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