Skip to content
By using Twitter’s services you agree to our Cookies Use. We and our partners operate globally and use cookies, including for analytics, personalisation, and ads.

This is the legacy version of twitter.com. We will be shutting it down on June 1, 2020. Please switch to a supported browser, or disable the extension which masks your browser. You can see a list of supported browsers in our Help Center.

  • Home Home Home, current page.
  • About

Saved searches

  • Remove
  • In this conversation
    Verified accountProtected Tweets @
Suggested users
  • Verified accountProtected Tweets @
  • Verified accountProtected Tweets @
  • Language: English
    • Bahasa Indonesia
    • Bahasa Melayu
    • Català
    • Čeština
    • Dansk
    • Deutsch
    • English UK
    • Español
    • Filipino
    • Français
    • Hrvatski
    • Italiano
    • Magyar
    • Nederlands
    • Norsk
    • Polski
    • Português
    • Română
    • Slovenčina
    • Suomi
    • Svenska
    • Tiếng Việt
    • Türkçe
    • Ελληνικά
    • Български език
    • Русский
    • Српски
    • Українська мова
    • עִבְרִית
    • العربية
    • فارسی
    • मराठी
    • हिन्दी
    • বাংলা
    • ગુજરાતી
    • தமிழ்
    • ಕನ್ನಡ
    • ภาษาไทย
    • 한국어
    • 日本語
    • 简体中文
    • 繁體中文
  • Have an account? Log in
    Have an account?
    · Forgot password?

    New to Twitter?
    Sign up
patio11's profile
Patrick McKenzie
Patrick McKenzie
Patrick McKenzie
@patio11

Tweets

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

Tweets

  • © 2020 Twitter
  • About
  • Help Center
  • Terms
  • Privacy policy
  • Imprint
  • Cookies
  • Ads info
Dismiss
Previous
Next

Go to a person's profile

Saved searches

  • Remove
  • In this conversation
    Verified accountProtected Tweets @
Suggested users
  • Verified accountProtected Tweets @
  • Verified accountProtected Tweets @

Promote this Tweet

Block

  • Tweet with a location

    You can add location information to your Tweets, such as your city or precise location, from the web and via third-party applications. You always have the option to delete your Tweet location history. Learn more

    Your lists

    Create a new list


    Under 100 characters, optional

    Privacy

    Copy link to Tweet

    Embed this Tweet

    Embed this Video

    Add this Tweet to your website by copying the code below. Learn more

    Add this video to your website by copying the code below. Learn more

    Hmm, there was a problem reaching the server.

    By embedding Twitter content in your website or app, you are agreeing to the Twitter Developer Agreement and Developer Policy.

    Preview

    Why you're seeing this ad

    Log in to Twitter

    · Forgot password?
    Don't have an account? Sign up »

    Sign up for Twitter

    Not on Twitter? Sign up, tune into the things you care about, and get updates as they happen.

    Sign up
    Have an account? Log in »

    Two-way (sending and receiving) short codes:

    Country Code For customers of
    United States 40404 (any)
    Canada 21212 (any)
    United Kingdom 86444 Vodafone, Orange, 3, O2
    Brazil 40404 Nextel, TIM
    Haiti 40404 Digicel, Voila
    Ireland 51210 Vodafone, O2
    India 53000 Bharti Airtel, Videocon, Reliance
    Indonesia 89887 AXIS, 3, Telkomsel, Indosat, XL Axiata
    Italy 4880804 Wind
    3424486444 Vodafone
    » See SMS short codes for other countries

    Confirmation

     

    Welcome home!

    This timeline is where you’ll spend most of your time, getting instant updates about what matters to you.

    Tweets not working for you?

    Hover over the profile pic and click the Following button to unfollow any account.

    Say a lot with a little

    When you see a Tweet you love, tap the heart — it lets the person who wrote it know you shared the love.

    Spread the word

    The fastest way to share someone else’s Tweet with your followers is with a Retweet. Tap the icon to send it instantly.

    Join the conversation

    Add your thoughts about any Tweet with a Reply. Find a topic you’re passionate about, and jump right in.

    Learn the latest

    Get instant insight into what people are talking about now.

    Get more of what you love

    Follow more accounts to get instant updates about topics you care about.

    Find what's happening

    See the latest conversations about any topic instantly.

    Never miss a Moment

    Catch up instantly on the best stories happening as they unfold.

    1. Patrick McKenzie‏ @patio11 9 Jul 2019
      • Report Tweet
      • Report NetzDG Violation

      There is some brutal competition for retail deposits right now and I think the banks are getting sophisticated about balancing interest rates and consumers’ who satisfice versus those who optimize. They can probably afford to lose the latter.

      6 replies 3 retweets 24 likes
      Show this thread
    2. Patrick McKenzie‏ @patio11 9 Jul 2019
      • Report Tweet
      • Report NetzDG Violation

      There have been higher-yielding options for retail for at least 25 years now but I think mobile banking substantially changes the game, because there was previously some friction in getting money in and getting it out, and now it’s single digit taps on your always-on computer.

      3 replies 0 retweets 13 likes
      Show this thread
    3. Patrick McKenzie‏ @patio11 9 Jul 2019
      • Report Tweet
      • Report NetzDG Violation

      I wonder who decides to give this away (to the extent that regulators will let them)? Maybe Wealthfront? Capital One, Marcus (Goldman Sachs), Ally, Amex, and at least a few others all have options here, but Wealthfront and maybe Robinhood seem to be indifferent to net interest.

      4 replies 1 retweet 14 likes
      Show this thread
    4. Kamil Choudhury‏ @kchoudhu 9 Jul 2019
      • Report Tweet
      • Report NetzDG Violation
      Replying to @patio11

      I don’t understand the retail deposit business. With rates and vol so low, who has any cash at all on hand?

      1 reply 0 retweets 0 likes
      Patrick McKenzie‏ @patio11 9 Jul 2019
      • Report Tweet
      • Report NetzDG Violation
      Replying to @kchoudhu

      Boomers and yuppies, but broadly speaking the American middle class at any given time has a lot of cash and is not very aggressive about optimizing it. This is a perinneal low-cost source of deposits for banks.

      9:12 AM - 9 Jul 2019
      2 replies 0 retweets 0 likes
        1. New conversation
        2. jlongino‏ @jlongino 9 Jul 2019
          • Report Tweet
          • Report NetzDG Violation
          Replying to @patio11 @kchoudhu

          Do you think mobile banks a good optimization solution, or is there something better?

          1 reply 0 retweets 0 likes
        3. Patrick McKenzie‏ @patio11 9 Jul 2019
          • Report Tweet
          • Report NetzDG Violation
          Replying to @jlongino @kchoudhu

          From user’s perspective or from hypothetical entrepreneur’s perspective? I think most consumers of banking services who’d take advice from me would get most of the juice for very little squeeze by getting one bank with a competitive rate and a mobile app, yeah. Punt on #2.

          0 replies 0 retweets 0 likes
        4. End of conversation
        1. New conversation
        2. Kamil Choudhury‏ @kchoudhu 9 Jul 2019
          • Report Tweet
          • Report NetzDG Violation
          Replying to @patio11

          Wild. I get nervous thinking about cash sitting around idle, and have more than once considered investing for the long term on margin.

          2 replies 0 retweets 1 like
        3. Kamil Choudhury‏ @kchoudhu 9 Jul 2019
          • Report Tweet
          • Report NetzDG Violation
          Replying to @kchoudhu @patio11

          Aaaand now I'm reading about the Kelly Criterion. Twitter is a plague.

          0 replies 0 retweets 1 like
        4. End of conversation

      Loading seems to be taking a while.

      Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.

        Promoted Tweet

        false

        • © 2020 Twitter
        • About
        • Help Center
        • Terms
        • Privacy policy
        • Imprint
        • Cookies
        • Ads info