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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 18 May 2019
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    Patrick McKenzie Retweeted Naval

    I think this is one thing the financial industry figured out and then exploited pretty ruthlessly, and I think AppAmaGooBookSoft are quickly getting there.https://twitter.com/naval/status/1129924844697423872 …

    Patrick McKenzie added,

    Naval @naval
    Everybody wants to hire the best. Very few actually pay them like they’re the best.
    6:45 PM - 18 May 2019
    • 23 Retweets
    • 248 Likes
    • cherls Umi Scott A. Corbitt Sankara Ryan Catalani Himanshu Gupta Ben McRedmond John Gattuso Cole Hudson
    7 replies 23 retweets 248 likes
      1. Patrick McKenzie‏ @patio11 18 May 2019
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        (And yeah, a lot of people who compete against their offers will say “Oh sure if all you care about is making money.”)

        4 replies 2 retweets 84 likes
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      1. ~ 𝙋𝙧𝙖𝙙 𝙉𝙚𝙡𝙡𝙪𝙧𝙪 ~‏ @pradnelluru 18 May 2019
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        Replying to @patio11

        Google pays at the 85th percentile and more for high performance. As long as there's enough people passing interviews and accepting offers, this won't go up.

        0 replies 1 retweet 0 likes
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      1. Gustavo Freitas‏ @axcdnt 19 May 2019
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        Replying to @patio11

        Or, even worse, wants to hire the best and give them no autonomy, micromanaging the best.

        0 replies 0 retweets 1 like
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      1. New conversation
      2. Francisco Presencia‏ @FPresencia 19 May 2019
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        Replying to @patio11

        In Japan I've seen a strong correlation of the quality of the position with the monetary offer they made. Including overtime, vacations, culture, etc.

        1 reply 0 retweets 0 likes
      3. Kuiper‏ @justkuiper 19 May 2019
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        Replying to @FPresencia @patio11

        In Japan, high value jobs confer social status directly, a bit different from the American approach of paying employees lots of money that they then can use to purchase social status.

        0 replies 0 retweets 1 like
      4. End of conversation
      1. Con Healy‏ @con_healy 18 May 2019
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        Replying to @patio11

        In capital markets I think a lot of this is because its a race to fund arbitrage before your competitors so. So you can't just be a decent trader for example. You need to be one of the best. Noting of course there are also winner takes all software markets

        0 replies 0 retweets 0 likes
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      1. Jim Weisser‏ @jimbudweisser 19 May 2019
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        Replying to @patio11

        One of the difficulties can be figuring out the VORWorker in ibanking-if a trader makes 5M on his book, how much of that is the trader and how much of that is Morgan Sachs Capital? Back office tended to be overcompensated vs other industries in many cases I’ve seen. YMMV.

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      1. brrr Seitz‏ @BillSeitz 19 May 2019
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        Replying to @patio11

        Worse than you think https://en.m.wikipedia.org/wiki/High-Tech_Employee_Antitrust_Litigation …

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