Patrick McKenzie

Patrick McKenzie quotes on tech industry

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

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1

An underappreciated and underpracticed-in-tech part of the hiring loop: candidates should come away from it, regardless of the outcome, willing to talk you up to their friends/coworkers/etc.

2

A thing you’re going to start seeing more frequently: software companies entirely funded by software people, without needing to tap traditional large pools of money (VC funds backed by pensions/universities/family offices) basically ever.

3

If you work in tech, you are likely underinsured on term life. You should have plural million dollars of coverage, including *outside* coverage offered by your employer. This is so cheap you will barely notice it.

4

An underdiscussed thing in fintech: as firms get more sophisticated at precision marketing and onboarding gets easier, it has become easier to "skin the cream" of the top e.g. 20% of customers with the best margin characteristics. This has lots of implications, for everyone.

5

I think it is underappreciated by many technologists how many technology companies are, often quietly, building vehicles which have cash flow profiles similar to asset backed securities. The economy structurally wants those assets and capita for them is extremely abundant.

6

There are a lot of fintech companies which are a wrapper of varying thickness over an underlying provider which was willing to do a smart bizdev deal but wasn't capable of shipping their own modern mobile/web experience.

7

There are an awful lot of small software companies which didn't need much more than "capable of writing software" and "at least as much sales skill as a clerk at Nordstrom's" to get started. Many of them don't sound like particularly "good ideas."

8

It’s interesting that YouTube is relatively good for recipes and Google is bad more or less because of the economics of content creation and discovery algorithms more than videos being a better way to teach cooking than text.

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