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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 26 Feb 2019
      • Report Tweet
      • Report NetzDG Violation

      Patrick McKenzie Retweeted Jesse Pollak

      I didn't expect the Bitcoin economy to kick out a pretty thought-provoking essay on the nature of trust in a corporate memo, but they did, so see this screenshot of the memo. You'll see examples of this *all over* if you look for them.https://twitter.com/jessepollak/status/1098660145532260352 …

      Patrick McKenzie added,

      Jesse Pollak @jessepollak
      just wrote an email on "what is accountability" to our org at @coinbase - think it applies to any company or relationship, anywhere. TL;DR accountability = commitments + follow through pic.twitter.com/YbOyvJWVrs
      Show this thread
      2 replies 10 retweets 42 likes
      Show this thread
    2. Patrick McKenzie‏ @patio11 26 Feb 2019
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      A random example for you: settlement times go up as inter-institutional trust goes up. The Bitcoin economy wears on its sleeve that it trusts no one, and has ~1 hour settlement. Banks in the US settle e.g. checks in X days. In Japan, interbank payments can take Y months.

      4 replies 2 retweets 9 likes
      Show this thread
    3. Patrick McKenzie‏ @patio11 26 Feb 2019
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      And the nations of Japan and the United States signed a piece of paper in like 2007 which says, among many other things, "We're going to net out a 7 figure liability about Patrick in, hmm, 2060 or so. No big deal, we know you're good for it."

      1 reply 1 retweet 9 likes
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    4. Patrick McKenzie‏ @patio11 26 Feb 2019
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      (The paper was the US Japan Social Security Totalization Agreement and yeah that's approximately the per-retiree cost and mechanism for covering a citizen of one that spends their entire working career in the other.)

      2 replies 0 retweets 10 likes
      Show this thread
    5. Iron Freedom‏ @glyphzau 26 Feb 2019
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      Replying to @patio11

      Entire career in other country? US citizens cover Japan and vv?

      1 reply 0 retweets 0 likes
      Patrick McKenzie‏ @patio11 26 Feb 2019
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      Replying to @glyphzau

      If one hypothetically has a life-plan like: Grow up in Japan. Spend working career in US. Retire in Japan. Then Totalization Agreement says "Japan provides you Social Security etc and bills the United States for it; you aren't excluded just because you paid into wrong scheme."

      1:10 AM - 26 Feb 2019
      • 1 Like
      • Iron Freedom
      0 replies 0 retweets 1 like

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