Patrick McKenzie

Patrick McKenzie quotes on business insights

I work for the Internet, at @stripe, mostly on accelerating startups. Opinions here are my own.

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1

Rates exert gravity. If you charge more, you’ll spend your time talking to more sophisticated clients, working in better businesses, specializing in projects close to the money. These are compounding advantages. If you charge less, similar dynamics apply.

2

“Operating cadence” is one of the most powerful advantages a person or organization can have, and I think that it explains more of the last few months than e.g. “organizational capacity” does.

3

One reason many institutions today are weaker than counterparts were generations ago was that allocation of smart people got more efficient for certain definitions of efficient, and institutions no longer benefit from so much free lunch.

4

A lot of founders choose markets based on the availability heuristic, which tends to overconcentrate brainsweat in predictable places. Some of them make for poor businesses specifically because they're interesting to young people without money.

5

It is not other people’s job, in most cases, to know consequential facts about you / your offering, and so if you want them to know and remember those things you will have to repeat them.

6

Businesses renegotiate contracts all the time, for many reasons, and the attempt to renegotiate a contract is both a) not a refusal to honor the original contract and b) not a thing you should, in general, be particularly offended by.

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