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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 22 Oct 2019
    • Report Tweet
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    Patrick McKenzie Retweeted Chris Aniszczyk

    That’s about 25X as many servers as I would have expected them to have but then again the majority are probably doing things which are substantially more opaque externally / hard to estimate than retail banking / transaction processing.https://twitter.com/cra/status/1186324783492993025 …

    Patrick McKenzie added,

    Chris Aniszczyk @cra
    🤔"Bank of America bucked the Wall Street trend and made a $350 million bet on its own internal cloud — and the payoff has been striking" https://www.businessinsider.com/bank-of-americas-350-million-internal-cloud-bet-striking-payoff-2019-10 … pic.twitter.com/704JzLW77e
    2:33 AM - 22 Oct 2019
    • 6 Retweets
    • 72 Likes
    • Thomas Womack Mohannad Daghesh Topaz Vaibhav Mallya ContrarianPragmatist MathLarson David Falkner SUNNY René Kübler
    15 replies 6 retweets 72 likes
      1. stucchio‏ @stucchio 22 Oct 2019
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        Replying to @patio11

        Some years back, I heard a claim made that 75% of the computing power in the world is doing MCMC at a bank or hedge fund. It wouldn't surprise me if BofA still has a lot of this, perhaps with some SGD replacing MCMC.

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      2. Max Schumacher‏ @mxschumacher 22 Oct 2019
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        Replying to @patio11

        given international footprint, diversity of the business, regulatory requirements and 60+ years of legacy (especially from multiple companies that have been merged over time) it seems almost unfathomable for me to have a holistic overview. Also, imagine the migration paths ...

        1 reply 0 retweets 2 likes
      3. Dave O'Flynn‏ @daveoflynn 22 Oct 2019
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        Replying to @mxschumacher @patio11

        Yup - I was going to point out their legacy of acquisitions, esp Merrill Lynch and the international investment banking complexity that came with that.

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      4. End of conversation
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      2. Kamil Choudhury‏ @kchoudhu 22 Oct 2019
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        Replying to @patio11

        Risk is beefy.

        0 replies 0 retweets 0 likes
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      1. k. rainbolt-greene‏ @krainboltgreene 22 Oct 2019
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        Replying to @patio11

        To be a fly on the wall of the meetings that helped move in this direction...

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      1. Richard Tibbetts‏ @tibbetts 22 Oct 2019
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        Replying to @patio11

        The complex risk and trading stuff is easier to estimate than the legacy systems accumulated and aggregated over hundreds (thousands?) of mergers. I wonder why the error bars on that 200k estimate were like.

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      1. Rani Horev‏ @rani_horev 22 Oct 2019
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        Replying to @patio11

        Plus a lot of legacy systems probably

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      1. Maxime Rousseau‏ @maxrousseau 22 Oct 2019
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        Replying to @patio11

        Its customer service bots

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      1. !False‏ @mahemoff 22 Oct 2019
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        Replying to @patio11

        They went from 200K oranges to 70K apples. The cash saving is meaningful, the quantity of servers not so much.

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