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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 19 Aug 2017
    • Report Tweet
    • Report NetzDG Violation

    Patrick McKenzie Retweeted Sizhao Yang

    There's an interesting thread here analyzing ICOs as if they were startups. I'll give the counterpoint: they're investment scams.https://twitter.com/zaoyang/status/899008960220372992 …

    Patrick McKenzie added,

    Sizhao Yang @zaoyang
    1/ Why does the ICO opportunity exist at all?
    7:04 PM - 19 Aug 2017
    • 114 Retweets
    • 291 Likes
    • Alvin Kato J.R. Narasimhan Seshadri Piyush Makhija Gad Ashkenazy David Gerard simple complex Lie algebra Flameyyy cryptobsd Stefanie Schulte #GenoVerband
    5 replies 114 retweets 291 likes
      1. New conversation
      2. Patrick McKenzie‏ @patio11 19 Aug 2017
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        Replying to @patio11

        Investment scams are big business! $5 billion+ a year in the US. But they receive substantial adversarial attention from regulators.

        2 replies 1 retweet 21 likes
      3. Patrick McKenzie‏ @patio11 19 Aug 2017
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        Replying to @patio11

        Scammer problems: you have to recruit marks, successfully transfer their money to a scam vehicle, exfiltrate, and avoid arrest.

        1 reply 1 retweet 12 likes
      4. 19 more replies
      1. Amy "Social Distancing" Hoy‏ @amyhoy 19 Aug 2017
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        Replying to @AndrewHires @patio11

        i can attest that patrick is an excellent party guest, as long as you're not a scammer 👍🏻

        0 replies 1 retweet 8 likes
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      1. New conversation
      2. Jack Clancy‏ @jack_clancy93 22 Aug 2017
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        Replying to @patio11 @levelsio

        @patio11 you really think not a single ICO has resulted in any value creation? Even ethereum ICO? Or you think all are scam/ponzi scheme?

        4 replies 1 retweet 5 likes
      3. ؜‏Verified account @levelsio 22 Aug 2017
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        Replying to @jack_clancy93 @patio11

        Tell me one that has

        6 replies 0 retweets 1 like
      4. 14 more replies
      1. elizabeth stark  😷‏ @starkness 21 Aug 2017
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        Replying to @patio11

        elizabeth stark  😷 Retweeted elizabeth stark  😷

        Indeed...https://twitter.com/starkness/status/899068366899617792 …

        elizabeth stark  😷 added,

        elizabeth stark  😷 @starkness
        Replying to @starkness @zaoyang and 3 others
        I've seen more idiotic capital flowing into scammy ICOs than I could have ever imagined.
        0 replies 0 retweets 6 likes
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      1.  🇺🇸Elliot Temple 🤔‏ @curi42 19 Aug 2017
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        Replying to @patio11

        great comments. you should blog stuff like this. since you didn't, FYI i did, because i wanted a better permalink: http://curi.us/2027-patio11-criticizes-cryptocurrency-initial-coin-offerings-as-investment-scams …

        0 replies 0 retweets 2 likes
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      1. Nick Walker‏ @aNickWalker 20 Aug 2017
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        Replying to @patio11

        Well the reality is like in the real world, they are both. You need to do your due diligence and figure out what has merit and what doesn't.

        0 replies 0 retweets 1 like
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      1. Noah Gibbs‏ @codefolio 19 Aug 2017
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        Replying to @GregorStocks @patio11

        But then exfiltration looks like money laundering because that's what it *is*.

        0 replies 0 retweets 0 likes
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      1. Travelocity‏Verified account @travelocity 20 Aug 2017
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        Replying to @BetterCity

        Hi there! We're sorry to hear that, please send us DM so we can further assist. ^Ella

        0 replies 0 retweets 0 likes
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