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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 31 Aug 2019
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    Patrick McKenzie Retweeted Tyler Tringas

    Part of me thinks that contingent on your ability to pass gatekeepers "Work for AppAmaGooFaceSoft for ~10 years" is probably surer, but a huge thing to recommend about this strategy is it requires no one's permission.https://twitter.com/tylertringas/status/1167438023920951296 …

    Patrick McKenzie added,

    Tyler Tringas @tylertringas
    The surest path I know to building generational wealth today: Build an online/SaaS business with little to no outside capital. Hire a lean, remote team. Get profitable. Extract yourself from day to day operations. Sell the business.
    Show this thread
    8:52 PM - 31 Aug 2019
    • 5 Retweets
    • 145 Likes
    • im only 5'3 Gary (mask) Niv Michael Herold Birgir Magnússon Etienne Neveu Hugo Pacheco Kyle Paul Delhanty Not Liquid
    3 replies 5 retweets 145 likes
      1. New conversation
      2. Patrick McKenzie‏ @patio11 31 Aug 2019
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        I built and sold two SaaS companies, and the supermajority of the economic value was built a) before anyone on the Internets knew who I was and b) requiring no Yes from anybody other than a customer (or, I suppose, a tax agency, but their Yes are mostly "Yes, we got that return")

        1 reply 4 retweets 52 likes
        Show this thread
      3. Patrick McKenzie‏ @patio11 31 Aug 2019
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        "Where'd you get the money to start?" Credit cards. Mostly, other people's.

        1 reply 0 retweets 28 likes
        Show this thread
      4. Patrick McKenzie‏ @patio11 31 Aug 2019
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        "Is there a non-trolling way to phrase that?" It cost ~$60 to get a website set up back in the day to the point where I could successfully sell a thing that existed to customers for money. After that point, funded the business almost entirely through revenue.

        1 reply 0 retweets 25 likes
        Show this thread
      5. Patrick McKenzie‏ @patio11 31 Aug 2019
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        "Almost?" Definitely have a credit card and a line of credit if you can get it. Cash flow management in a small business is non-trivial; they're great, great things to have.

        3 replies 2 retweets 33 likes
        Show this thread
      6. End of conversation
      1. New conversation
      2. Mason  💦 👏 +  😷 +  🏃‍♂️ ✂️‏ @webdevMason 31 Aug 2019
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        Replying to @patio11

        Considering "career capital," it's worth thinking about where you want to demonstrate your ability to produce value — within a massive org, or without permission & without a blueprint. Both are good, but you're demonstrating two very different skill sets

        1 reply 0 retweets 20 likes
      3. Patrick McKenzie‏ @patio11 31 Aug 2019
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        Replying to @webdevMason

        I think you can launder N years of experience in #2, but probably not X0 years, into a BigCo legible form by joining a quickly-growing startup, for what it is worth. A bit harder to launder the other way, since "I worked at Google!" sells no SaaS. (Might help vis funding.)

        2 replies 1 retweet 11 likes
      4. 4 more replies
      1. New conversation
      2. Roy Bahat .‾ ‾‏Verified account @roybahat 31 Aug 2019
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        Replying to @socialimpactvc @CeoNunneley and

        People and rules are allergic to each other

        1 reply 0 retweets 4 likes
      3. Mason  💦 👏 +  😷 +  🏃‍♂️ ✂️‏ @webdevMason 31 Aug 2019
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        Replying to @roybahat @CeoNunneley @patio11

        In general, people are not reducible to binary features; stories are of limited use, but at least transparently so, checklists hide their subjectivity under the hood

        0 replies 0 retweets 4 likes
      4. End of conversation
      1. Roy Bahat .‾ ‾‏Verified account @roybahat 31 Aug 2019
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        Replying to @socialimpactvc @webdevMason @patio11

        Nowhere is the best training there is, usually

        0 replies 0 retweets 4 likes
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      1. Tyler Tringas‏ @tylertringas 1 Sep 2019
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        Replying to @patio11

        Tyler Tringas Retweeted Tyler Tringas

        Yes. I agree on both counts.https://twitter.com/tylertringas/status/1167944897875214339?s=21 …

        Tyler Tringas added,

        Tyler Tringas @tylertringas
        Replying to @stenpittet @wewals
        If you are already a very talented "senior" programmer, FAANG + a Mr Money Mustache level savings rate is probably a surer path. But barrier to entry is high.
        0 replies 0 retweets 3 likes
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