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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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    1. Tiago Forte‏ @fortelabs Apr 1
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      Serious question: is any wealth actually being destroyed by this quarantine and economic shutdown? If certain companies go bankrupt, is there any fundamental reason new ones won’t arise to take their place?

      31 replies 4 retweets 68 likes
      Patrick McKenzie‏ @patio11 Apr 1
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      Replying to @fortelabs

      A lot of knowledge doesn’t exist in minds or documents but rather in networks. Disrupting some large percentage of nodes degrades the network because the edges don’t come back in the same way in the future, even assuming injecting equivalent nodes, at least not quickly.

      4:57 PM - 1 Apr 2020
      • 29 Retweets
      • 318 Likes
      • IndieStack 🌧 ashish SP Emmanuel Quartey Matt Guttman Durchlass Kilometer 5,698 Mohammad bin Ra’s Al Ghul Curried Apotheosis
      12 replies 29 retweets 318 likes
        1. New conversation
        2. Victor Mota‏ @vimota Apr 1
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          Replying to @patio11 @fortelabs

          @tylercowen and @EconTalker covered this: What is lost when these businesses fail? Can they come back? I think of it like entropy and atoms. The units of these businesses (the people, skills, assets) continue to exist, but rebuilding the structure requires a lot of energy.pic.twitter.com/OaVdgSM4Bf

          1 reply 2 retweets 38 likes
        3. Victor Mota‏ @vimota Apr 1
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          Replying to @vimota @patio11 and

          As in, there's value in creating that order from disorder (the matching problem), and that energy was and is being destroyed.

          0 replies 0 retweets 11 likes
        4. End of conversation
        1. Michael Leide‏ @CashewLeCat Apr 1
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          Replying to @patio11 @fortelabs

          Perhaps it strengthens the network, long term.

          0 replies 0 retweets 1 like
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        1. Andrew M. Farrell‏ @amfarrell Apr 1
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          Replying to @patio11 @fortelabs

          This is why the British policy of paying 80% of the salary of furloughed workers is actually brilliant. Its basically putting those networks in a freezer so that when this blows over the can be thawed.

          0 replies 0 retweets 1 like
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        1. Emilian Bold‏ @emilianbold Apr 1
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          Replying to @patio11 @fortelabs

          oh, this is a neat idea. So the economy lattice iteratively found a (local) optima. Disrupting that means another process to find an optima starts and there's no guarantee how quickly a similar or better solution is found.

          0 replies 0 retweets 1 like
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        1. New conversation
        2. Dauda Barry‏ @Daudex Apr 1
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          Replying to @patio11 @fortelabs

          Isn't that disruption often the catalyst for innovation?

          1 reply 0 retweets 0 likes
        3. Frederick Kozlowski‏ @FredRKozlowski Apr 1
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          Replying to @Daudex @patio11 @fortelabs

          Agreed. Disrupt seems like a strong word. Ideally the whole mix up in the economy leads to new ideas.

          1 reply 0 retweets 0 likes
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        1. Jonah Crane‏ @JonahCrane Apr 1
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          Replying to @patio11 @fortelabs

          This is not an abstract problem. The frictions involved in hiring people, developing systems, building out supplier/customer relationships, negotiating contracts, and doing so within the constraints of whatever funding you can provide and networks you have available ... Is hard.

          0 replies 0 retweets 0 likes
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        1. Adam Smith‏ @LaissezWhere Apr 1
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          Replying to @patio11 @fortelabs

          Even if the world’s i.e. 2030 GDP etc. are unaffected by the pandemic, the curve over the next ~18 months has moved lower and that’s gonna cause real suffering to real people, also.

          0 replies 0 retweets 0 likes
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        1. prasanna shivakamat‏ @prasanna1177 Apr 1
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          Replying to @patio11 @fortelabs

          Fully agree but then the networks and structures however good were not meant for the new world and thus got http://extinct.New  world needs new structure and new edges/nodes for networks.

          0 replies 0 retweets 0 likes
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