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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 18 May 2019
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      When they write the history of 2000 to 2020 a huge chunk is going to have to be about the logistics revolution, with a lot of incremental innovation on models which already existed being qualitatively different when exploited properly. Example:https://edition.cnn.com/interactive/2019/05/business/aldi-walmart-low-food-prices/index.html …

      4 replies 42 retweets 239 likes
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      Patrick McKenzie‏ @patio11 18 May 2019
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      “We’re going to vertically integrate a supermarket, tighten inventories, and slash labor costs.” “Those are all words that we knew a hundred years ago.” “Yeah and we’ll be able to sell milk cheaper than WalMart.” “Wait back up.” “Like I said we are going after this *for real.*”

      4:45 AM - 18 May 2019
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      • 75 Likes
      • David McDougall John M. P. Knox 홍정훈 Chung Hoon Hong Thomas Mattimore noplasticshower James Burns Mario Sangiorgio rorscharg Gabriel Claramunt
      7 replies 6 retweets 75 likes
        1. New conversation
        2. Colin Percival‏ @cperciva 18 May 2019
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          Replying to @patio11

          Anyone can sell milk cheaper than WalMart. All you have to do is be willing to lose money. Not quite as vacuous as it sounds, either. Milk is very often used as a loss leader since many customers (incorrectly) use it as a price benchmark.

          3 replies 0 retweets 3 likes
        3. Luis Pedro Coelho wants us to #GetToZero‏ @luispedrocoelho 18 May 2019
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          Replying to @cperciva @patio11

          This is an interesting instance of Goodhart's Law that I had not thought of before: if consumers base their decisions on one particular price as indicative, then that price will soon stop being indicative.

          0 replies 0 retweets 6 likes
        4. End of conversation
        1. New conversation
        2. Kamil Choudhury‏ @kchoudhu 18 May 2019
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          Replying to @patio11

          The shocking thing about Aldi is how it is actually *good*. Their store brand goods are actually better than comparable brand name stuff.

          2 replies 0 retweets 2 likes
        3. Kamil Choudhury‏ @kchoudhu 18 May 2019
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          Replying to @kchoudhu @patio11

          A large part of my thesis about how Euros get away with lower salaries than Americans while still remaining happy involves hard discount stores like Aldi.

          1 reply 0 retweets 4 likes
        4. 1 more reply
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        2. Nicolai Hähnle‏ @nhaehnle 18 May 2019
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          Replying to @patio11

          It's an important lesson though that Aldi saves labor costs *by paying people more*. Okay, the savings are really due to better training, but the better pay then helps to retain staff.

          1 reply 0 retweets 1 like
        3. Nicolai Hähnle‏ @nhaehnle 18 May 2019
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          Replying to @nhaehnle @patio11

          Point is, they're saving labor costs by investing more in their people. The competition is penny wise, pound foolish.

          0 replies 0 retweets 1 like
        4. End of conversation
        1. Andrei Popovici‏ @andreipopovici 18 May 2019
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          Replying to @patio11

          "We're going to hook up the cows right behind the milk cooler in the store "

          0 replies 0 retweets 2 likes
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        1. Roman‏ @naumenko_roman 18 May 2019
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          Replying to @patio11

          “Milk prices” is our internal family joke when somebody wants to indicate lack of care towards particular subject

          0 replies 0 retweets 1 like
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        2. Basti Moritz‏ @bastimori 18 May 2019
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          Replying to @patio11

          It is all about optimizing their supply chain. German efficiency at its peak. This allows Germans to spend the least on groceries proportional to their income in the entire Europe (or, maybe it's their food culture...)

          1 reply 0 retweets 0 likes
        3. Basti Moritz‏ @bastimori 18 May 2019
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          Replying to @bastimori @patio11

          But what they don't tell you in the article is that their secret is their economics especially supply chain economics and their terms of payment

          0 replies 0 retweets 1 like
        4. End of conversation

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