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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 17 Mar 2019
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    I think we’re going to see *a lot* more companies shaped like http://www.zeusliving.com  , where they are not just Internet-enabled frontends on underlying property management but eat the interesting parts of the underlying stack.

    8:47 AM - 17 Mar 2019
    • 16 Retweets
    • 208 Likes
    • Finance News Justin Poliachik Robin Vander Heyden Duo Wang Muhammad Ridzwan 🌉 Sampath Putrevu Nathan Wallace Jack Golding Spark Health
    13 replies 16 retweets 208 likes
      1. New conversation
      2. Patrick McKenzie‏ @patio11 17 Mar 2019
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        Partly this is a matter of tech folks growing up a bit, partly better access to capital, and partly increasing amounts of business savvy in the startup community.

        3 replies 0 retweets 35 likes
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      3. Patrick McKenzie‏ @patio11 17 Mar 2019
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        Nobody applied to YC 10 years ago with “You know what sounds exploitable inefficient? Corporate housing property management.”

        2 replies 0 retweets 70 likes
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      4. End of conversation
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      2. Jordan Scales‏ @jdan 17 Mar 2019
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        Replying to @patio11

        I'm not terribly familiar with corporate housing - what does the underlying stack look like?

        1 reply 0 retweets 1 like
      3. Patrick McKenzie‏ @patio11 17 Mar 2019
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        Replying to @jdan

        In this case it’s furnished/serviced apartments. (Like, Zeus actually has couches on the balance sheet.)

        1 reply 1 retweet 8 likes
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      2. Harry Heymann‏ @harryh 17 Mar 2019
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        Replying to @patio11

        I’m not so sure. These business have radically different capital requirements and don’t necessarily fit the high margin VC model.

        3 replies 0 retweets 8 likes
      3. Patrick McKenzie‏ @patio11 17 Mar 2019
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        Replying to @harryh

        I think you can probably be pretty creative on the capital here if you get the model right. (That's the name of the game generally in property management: landlord and bank buy the really expensive thing, property manager makes service-like margins on top of it.)

        4 replies 0 retweets 18 likes
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      2. Kulveer  ⚡️‏Verified account @kul 17 Mar 2019
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        Replying to @patio11

        It makes sense to me (and I see parallels to @LambdaSchool). In our diligence of this space we saw: a) that front end, digital only approaches ended up being insufficient b) existing property management approaches had poor incentives (that created inefficiency)

        1 reply 0 retweets 14 likes
      3. Kevin Sekniqi‏ @kevinsekniqi 17 Mar 2019
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        Replying to @kul @patio11 @LambdaSchool

        Can you elaborate on both points? Would love your extensive analysis. Or really, any analysis, I’ll be happy with any insights :)

        2 replies 0 retweets 3 likes
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      1. Matt DeMonte‏ @mattdemonte 17 Mar 2019
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        Replying to @patio11

        I have colleagues that stayed in hotels M-F for *months* while on a project. They would have loved this. Not worth relocating for a ~3 month assignment, but hotels are not really well suited either.

        0 replies 0 retweets 7 likes
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      1. Matt McCarthy‏ @Dovahkiin_69 17 Mar 2019
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        Replying to @patio11

        @DavidSamuelMann

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