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Profil korisnika/ce patio11
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
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Vrijeme pridruživanja: veljača 2009.

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    Patrick McKenzie‏ @patio11 1. pro 2017.
    • Prijavi Tweet

    Some people really benefit from hearing advice that everyone knows, for the same reason we keep schools open despite every subject in them having been taught before. In that spirit, here's some quick Things Many People Find Too Obvious To Have Told You Already.

    07:16 - 1. pro 2017.
    • 2.870 proslijeđenih tweetova
    • 7.295 oznaka „sviđa mi se”
    • Tim Rooney Tatiana Lingos-Webb Prince Ahmad Saleem Ryan Foo Daniel Charlie Brewer ashish(@tp53) Brian Yu MSKR
    2.870 proslijeđenih tweetova 7.295 korisnika označava da im se sviđa
      1. Novi razgovor
      2. Patrick McKenzie‏ @patio11 1. pro 2017.
        • Prijavi Tweet

        Your idea is not valuable, at all. All value is in the execution. You think you are an exception; you are not. You should not insist on an NDA to talk about it; nobody serious will engage in contract review over an idea, and this will mark you as clueless.

        27 replies 563 proslijeđena tweeta 2.113 korisnika označava da im se sviđa
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      3. Patrick McKenzie‏ @patio11 1. pro 2017.
        • Prijavi Tweet

        Technologists tend to severely underestimate the difficulty and expense of creating software, especially at companies which do not have fully staffed industry leading engineering teams ("because software is so easy there, amirite guys?") Charge more. Charge more still. Go on.

        200 proslijeđenih tweetova 1.107 korisnika označava da im se sviđa
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      4. Patrick McKenzie‏ @patio11 1. pro 2017.
        • Prijavi Tweet

        The press is a lossy and biased compression of events in the actual world, and is singularly consumed with its own rituals, status games, and incentives. The news necessarily fails to capture almost everything which happened yesterday. What it says is important usually isn't.

        14 replies 263 proslijeđena tweeta 1.156 korisnika označava da im se sviđa
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      5. Patrick McKenzie‏ @patio11 1. pro 2017.
        • Prijavi Tweet

        Companies find it incredibly hard to reliably staff positions with hard-working generalists who operate autonomously and have high risk tolerances. This is not the modal employee, including at places which are justifiably proud of the skill/diligence/etc of their employees.

        13 replies 227 proslijeđenih tweetova 1.260 korisnika označava da im se sviđa
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      6. Patrick McKenzie‏ @patio11 1. pro 2017.
        • Prijavi Tweet

        The hardest problem in B2C is distribution. The hardest problem in B2B is sales. AppAmaGooBookSoft are AppAmaGooBookSoft primarily because they have mortal locks on distribution.

        5 replies 161 proslijeđeni tweet 880 korisnika označava da im se sviđa
        Prikaži ovu nit
      7. Patrick McKenzie‏ @patio11 1. pro 2017.
        • Prijavi Tweet

        Everyone in Silicon Valley uses equity, and not debt, to fuel their growth because debt is not available in sufficient quantities to poorly capitalized companies without a strong history of adequate cash flows to service debt.

        6 replies 88 proslijeđenih tweetova 618 korisnika označava da im se sviđa
        Prikaži ovu nit
      8. Patrick McKenzie‏ @patio11 1. pro 2017.
        • Prijavi Tweet

        Investors in venture-back companies are purchasing a product. It is critically important to understand that that product is growth. The reason tech is favored as an asset class that it appears to be one of few sources of growth available on the market at the moment at any price.

        5 replies 142 proslijeđena tweeta 842 korisnika označavaju da im se sviđa
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      9. Patrick McKenzie‏ @patio11 1. pro 2017.
        • Prijavi Tweet

        The explosive growth of the tech sector keeps average age down and depresses average wages. Compared to industries which existed in materially the same form in 1970, we have a stupidly compressed experience spectrum: 5+ years rounds to "senior." This is not a joke.

        14 replies 152 proslijeđena tweeta 874 korisnika označavaju da im se sviđa
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      10. Patrick McKenzie‏ @patio11 1. pro 2017.
        • Prijavi Tweet

        The tech industry is fundamentally unserious about how it recruits, hires, and retains candidates. About which I have a lot more to say than could fit in a tweet, but, a good thing to know.

        10 replies 151 proslijeđeni tweet 929 korisnika označava da im se sviđa
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      11. Patrick McKenzie‏ @patio11 1. pro 2017.
        • Prijavi Tweet

        If you are attempting to hire for an engineering position, greater than 50% of people who apply for the job and whose resume you select as "facially plausible" will be entirely unable to program, at all. The search term for learning more about this is FizzBuzz.

        13 replies 135 proslijeđenih tweetova 856 korisnika označava da im se sviđa
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      12. Patrick McKenzie‏ @patio11 1. pro 2017.
        • Prijavi Tweet

        Software companies in B2B which aspire to growing quickly will eventually spend more on sales and marketing than they do on engineering. You can read S-1s of successful IPOs and calculate the ratio; it is sometimes 2X++.

        132 proslijeđena tweeta 676 korisnika označava da im se sviđa
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      13. Patrick McKenzie‏ @patio11 1. pro 2017.
        • Prijavi Tweet

        The chief products of the tech industry are (in B2C) developing new habits among consumers and (in B2B) taking a business process which exists in many places and markedly decreasing the total cost of people required to implement it.

        246 proslijeđenih tweetova 1.152 korisnika označavaju da im se sviđa
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      14. Patrick McKenzie‏ @patio11 1. pro 2017.
        • Prijavi Tweet

        There is no hidden reserve of smart people who know what they're doing, anywhere. Not in government, not in science, not in tech, not at AppAmaGooBookSoft, nowhere. The world exists in the same glorious imperfection that it presents with.

        11 replies 449 proslijeđenih tweetova 1.657 korisnika označava da im se sviđa
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      15. Patrick McKenzie‏ @patio11 1. pro 2017.
        • Prijavi Tweet

        Significant advances shipped by the tech industry in the last 20 years include putting the majority of human knowledge in the hands of 40%++ of the world's population, available on-demand, for "coffee money" not "university money."

        201 proslijeđeni tweet 1.050 korisnika označava da im se sviđa
        Prikaži ovu nit
      16. Patrick McKenzie‏ @patio11 1. pro 2017.
        • Prijavi Tweet

        Weak-form efficients market hypothesis is a good heuristic for evaluating the public markets but a really, really bad heuristic for evaluating either technical or economic facts about tech companies, startups, your career, etc etc. Optimizations are possible; fruit hangs low.

        5 replies 50 proslijeđenih tweetova 460 korisnika označava da im se sviđa
        Prikaži ovu nit
      17. Patrick McKenzie‏ @patio11 1. pro 2017.
        • Prijavi Tweet

        Startups are (by necessity) filled with generalists; big companies are filled with specialists. People underestimate how effective a generalist can be at things which are done by specialists. People underestimate how deep specialties can run. These are simultaneously true.

        15 replies 1.072 proslijeđena tweeta 3.428 korisnika označava da im se sviđa
        Prikaži ovu nit
      18. Patrick McKenzie‏ @patio11 1. pro 2017.
        • Prijavi Tweet

        Most open source software is written by programmers who are full-time employed by companies which directly consume the software, at the explicit or implicit blessing of their employers. It is not charity work, any more than they charitably file taxes.

        6 replies 147 proslijeđenih tweetova 819 korisnika označava da im se sviđa
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      19. Patrick McKenzie‏ @patio11 1. pro 2017.
        • Prijavi Tweet

        The amount of money flowing through capitalism would astound you. The number and variety of firms participating in the economy would astound you. We don't see most of it every day for the same reason abstractions protect us from having to care about metallurgy while programming.

        6 replies 126 proslijeđenih tweetova 921 korisnik označava da mu se sviđa
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      20. Patrick McKenzie‏ @patio11 1. pro 2017.
        • Prijavi Tweet

        CS programs have, in the main, not decided that the primary path to becoming a programmer should involve doing material actual programming. There are some exceptions: Waterloo, for example. This is the point where I joke "That's an exhaustive list" but not sure that a joke.

        91 proslijeđeni tweet 546 korisnika označava da im se sviđa
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      21. Patrick McKenzie‏ @patio11 1. pro 2017.
        • Prijavi Tweet

        Technical literacy in the broader population can be approximated with the Thanksgiving test: what sort of questions do you get at Thanksgiving? That's the ambient level of literacy. Serious people in positions of power eat Thanksgiving dinners, too. Guess what they ask at them.

        78 proslijeđenih tweetova 527 korisnika označava da im se sviđa
        Prikaži ovu nit
      22. Patrick McKenzie‏ @patio11 1. pro 2017.
        • Prijavi Tweet

        Salaries in the tech industry are up *a lot* in the last few years, caused by: a tight labor market, collapse of a cartel organized against the interests of workers, increasing returns to scale at AppAmaGooBookSoft, and the like. Investor money *does not* pay most salaries.

        45 proslijeđenih tweetova 440 korisnika označava da im se sviđa
        Prikaži ovu nit
      23. Patrick McKenzie‏ @patio11 1. pro 2017.
        • Prijavi Tweet

        This concludes, for the moment, an off-the-cuff list of things which would otherwise be too obvious to bring up in conversation. Meta thought: you radically underestimate both a) how much you know that other people do not and b) the instrumental benefits to you of publishing it.

        210 proslijeđenih tweetova 1.593 korisnika označavaju da im se sviđa
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