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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 Jan 31
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    “It’s the same amount of work to run a business in a good market as it is to run a business in a bad market, so prioritize good markets” seems like it is obvious advice but many people need to hear it years earlier than they do.

    7:38 AM - 31 Jan 2020
    • 46 Retweets
    • 391 Likes
    • Kai Kontio Jamie Ovidiu Ciule Andrei says: Diego Henrique Baldur Bjarnason @baldur@toot.cafe Rémi Durand Yang Su (苏阳) Stefan Vetter
    14 replies 46 retweets 391 likes
      1. New conversation
      2. Patrick McKenzie‏ @patio11 Jan 31
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        (Thought inspired by an HN thread which I will not link to because I do not mean this as even an implied criticism. I learned this one the hard way, over multiple years, twice.)

        1 reply 2 retweets 27 likes
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      3. Patrick McKenzie‏ @patio11 Jan 31
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        “What’s a good market?” Depends on your constraints/goals/desired trajectory/personal inclinations and skills/etc but broadly “A thing which sophisticated businesses happily pay money for because it makes them money in an extremely obvious way or decreases costs in the same.”

        4 replies 14 retweets 110 likes
        Show this thread
      4. Patrick McKenzie‏ @patio11 Jan 31
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        Bonus points for *many* businesses and *a lot of* money.

        2 replies 0 retweets 34 likes
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      5. End of conversation
      1. Chad Barb‏ @chadbarb Jan 31
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        Replying to @patio11

        Reminds me of pmarca’s “only thing that matters” https://pmarchive.com/guide_to_startups_part4.html …

        0 replies 1 retweet 8 likes
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      1. Omar Ismail‏ @OmarIsmail_io Jan 31
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        Replying to @patio11

        The same framework is extremely important for choosing which company to work for. It takes the same amount of work to excel at a company. The payoffs (career, pay, etc) are vastly different for which company you choose.

        0 replies 0 retweets 14 likes
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      1. WPezDeveloper‏ @WPezDeveloper Jan 31
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        Replying to @patio11

        Better to compete in a growing market that's competitive, than a shrinking market with dwindling competition.

        0 replies 0 retweets 7 likes
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      1. Harry Heymann‏ @harryh Jan 31
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        Replying to @patio11

        Most people won't end up running businesses, but they will have jobs. The same message holds for them.

        0 replies 0 retweets 7 likes
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      1. Oliver Emberton‏ @oliveremberton Jan 31
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        Replying to @patio11

        This generalises way beyond business. Friends, partners, hobbies, books... the greatest crime is not underinvestment but overinvestment in the wrong things

        0 replies 0 retweets 4 likes
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      1. New conversation
      2. Gary Basin‏ @garybasin Jan 31
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        Replying to @patio11

        Choose your poker table wisely

        1 reply 0 retweets 2 likes
      3. Puzzle man  🧩‏ @Neil_Jetter Jan 31
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        Replying to @garybasin @patio11

        know you dealer well

        0 replies 0 retweets 1 like
      4. End of conversation

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