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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 18 Jan 2018
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    “How do you get engineers to keep showing up if they’re rich?”, I hear asked in context of equity or *sigh* cryptocurrency speculation. Markets are markets and prices are prices. Neither VC firms nor the finance industry seem to be unable to hire or retain employees.

    8:50 AM - 18 Jan 2018
    • 27 Retweets
    • 157 Likes
    • J. Manuel Solorzano Matthew T. Villwock Ivan Erceg Devesh Guha Jakh Daven Jason Hagglund Suspiciously Specific Ehud Tamir
    12 replies 27 retweets 157 likes
      1. New conversation
      2. Patrick McKenzie‏ @patio11 18 Jan 2018
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        There’s a deep, deep level of discomfort, in many places, about engineering (and specifically programming) durably transitioning social classes from “a lower middle class occupation” to “an upper middle class occupation” to “a professional class occupation” to futures unknown.

        2 replies 17 retweets 77 likes
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      3. Patrick McKenzie‏ @patio11 18 Jan 2018
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        “It’s a bubble.” Crypto is a bubble. I will at least entertain arguments that valuations of startups are a bubble, though I think I disagree with you. AppAmaGooFaceSoft? Ignoring the share prices and just looking at the fundamental economics of those businesses: they can pay.

        2 replies 3 retweets 40 likes
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      4. End of conversation
      1. Patrick McKenzie‏ @patio11 18 Jan 2018
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        Replying to @pmmathieson

        Because the people I see asking about this most frequently have “capitalist” in their job titles.

        0 replies 0 retweets 1 like
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      1. New conversation
      2. Kamil Choudhury‏ @kchoudhu 18 Jan 2018
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        Replying to @BlairReeves @patio11

        I was perfectly happy being paid like a factory worker: in at 9:30, out at 5, plenty of free time to get a family and have a life outside work.

        1 reply 0 retweets 13 likes
      3. Kamil Choudhury‏ @kchoudhu 18 Jan 2018
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        Replying to @kchoudhu @BlairReeves @patio11

        I like to think I'm not alone in thinking that way too much exploitation happens by inducing people to think they are joint partners when they are, in fact, suckers who took equity instead of a market salary.

        0 replies 1 retweet 15 likes
      4. End of conversation
      1. New conversation
      2. Paul Roberts‏ @PollRobots 18 Jan 2018
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        Replying to @patio11

        Friends who were at Microsoft through the 90s report that employees getting rich served as a great filter: • The assholes tended to “call in rich” • Those with passion stayed to do the work they loved • Managers learned to tread carefully YMMV

        1 reply 2 retweets 9 likes
      3. Mary Branscombe‏ @marypcbuk 18 Jan 2018
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        Replying to @PollRobots @patio11

        yes, FYIV is a handy filter term

        1 reply 0 retweets 1 like
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      1. Stanislav (Stas) Katkov‏ @5katkov 18 Jan 2018
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        Replying to @patio11

        How about creating a healthy environment for engineers to strive in? Money can't help much with engineers, if they believe that they are being constantly mismanaged.

        0 replies 0 retweets 5 likes
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      2. Riley Labrecque‏ @RileyLabrecque 18 Jan 2018
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        Replying to @BadMetaphor @patio11

        Having a personal stake in the product is super important. We all want to build something great and we realizeat th we can't do it alone.

        1 reply 0 retweets 1 like
      3. Count PoCula #P(㇏(•̀ᵥᵥ•́)ノ)C‏ @kaosaur 18 Jan 2018
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        Replying to @RileyLabrecque @BadMetaphor @patio11

        If you have to offer equity to attract talent because they need a stake in your product, perhaps you need a better product. If the product is exciting enough, I’ll take a much lower offer if the company financials justify it. I’d probably writing OSS in that space anyway.

        1 reply 0 retweets 0 likes
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