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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. Patrick McKenzie‏ @patio11 19 Apr 2018
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      Patrick McKenzie Retweeted ؜

      As something of a connoisseur of international banking services due to a combination of very boring hobbies, an interesting professional situation, and recently getting a mortgage: there's a surprising mix of Definitely Gets It and Demographic Sledgehammer Incoming in banking.https://twitter.com/levelsio/status/986929299851636736 …

      Patrick McKenzie added,

      ؜Verified account @levelsio
      .@RevolutApp vs. 🦕 my old bank pic.twitter.com/xJ8iJPCzrw
      2 replies 9 retweets 32 likes
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      Patrick McKenzie‏ @patio11 19 Apr 2018
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      Like if you were BigBank, and you had a simple slider which would losslessly allocate investment between physical plant for branches and developing your mobile app: would 99.9998 and 0.0002 really be the optimal allocation in 2018?

      11:47 PM - 19 Apr 2018
      • 4 Retweets
      • 19 Likes
      • Fenneladon Privacyasaurus Aurorateratops Gareth Marshall 🏳️‍🌈❤️💜💙 nzben simple complex Lie algebra Eli Courtwright Will Peng Antonio Pérez Barrero Rasmus Savander Jasper Lyons
      3 replies 4 retweets 19 likes
        1. New conversation
        2. Patrick McKenzie‏ @patio11 19 Apr 2018
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          I actually sort of like branches, in theory, but I think my ideal number of branch visits for the rest of my life is somewhere between 3 and 10, and my banks' capacity planning assumes about 500.

          5 replies 1 retweet 18 likes
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        3. Patrick McKenzie‏ @patio11 19 Apr 2018
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          Story: the Japanese bank which wrote a mortgage for me has a feature where you can pre-pay part of the mortgage. This is, historically, a paid feature for JP mortgages. It costs ~$40 to do a partial pre-pay in branch "but we'll let you do it for $0 through our mobile app."

          1 reply 1 retweet 6 likes
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        4. Patrick McKenzie‏ @patio11 19 Apr 2018
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          Which, cool, but if it were free in the branch and $40 in the mobile app I'd be really, really tempted to use the mobile app, because seriously, what would possess a person to want to stand in line so that they could talk a person into punching numbers into a web app for them.

          2 replies 4 retweets 17 likes
          Show this thread
        5. End of conversation
        1. Brendon J. Wilson‏ @brendonjwilson 19 Apr 2018
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          Replying to @patio11

          In fairness, many of the big banks have been launching endless “banking of tomorrow” projects, but simply can’t execute. It’s like they just don’t know “how you money” (to steal your daughter’s phrase) on mobile...

          0 replies 0 retweets 0 likes
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        1. HydroxyCoreyQuinn‏ @QuinnyPig 20 Apr 2018
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          Replying to @patio11

          HydroxyCoreyQuinn Retweeted Patrick McKenzie

          Everything @patio11 writes is gold, and this entire thread is no exception.https://twitter.com/patio11/status/987221213461209090 …

          HydroxyCoreyQuinn added,

          Patrick McKenzie @patio11
          Like if you were BigBank, and you had a simple slider which would losslessly allocate investment between physical plant for branches and developing your mobile app: would 99.9998 and 0.0002 really be the optimal allocation in 2018?
          Show this thread
          0 replies 0 retweets 0 likes
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