4 ms·

Matt Levine's take from a few days ago. As usual, humorous and insightful. https://www.bloomberg.com/opinion/articles/2019-09-24/don-t-steal-the-payrolls http

by certmd 7y ago

Matt Levine's take from a few days ago. As usual, humorous and insightful. https://www.bloomberg.com/opinion/articles/2019-09-24/don-t-steal-the-payrolls https://www.bloomberg.com/opinion/articles/2019-09-24/don-t-...

braythwayt 7y ago
Is there a non-paywall way to read this?
- SpikedCola 7y ago
  https://pastebin.com/xeUmgmkR https://pastebin.com/xeUmgmkR
  - braythwayt 7y ago
    Thank you!
- dudus 7y ago
  You can subscribe to this newsletter and get the full texts by email
- mcintyre1994 7y ago
  He sends the full articles on his mailing list - the link is at the bottom of that article but if that's behind the paywall too it's here: https://link.mail.bloombergbusiness.com/join/4wm/moneystuff-signup https://link.mail.bloombergbusiness.com/join/4wm/moneystuff-...
- stefan_ 7y ago
  Outline works: https://outline.com/ktXMjW https://outline.com/ktXMjW The easiest, though, is to simply subscribe to his newsletter, which has all the articles in full. There is rarely an edition I find myself immediately archiving.
- bwan 7y ago
  You should be able to read it by disabling javascript.
devchix 7y ago
I love it this part: "The guy with a button that says “Steal $30 Million of Paychecks” doesn’t press it the first chance he gets. That would be stealing! He is a moral human being, he has standards, he stays well away from that button even if he is also simultaneously running a bunch of complicated frauds. You can look yourself in the eye when you’re running a complicated fraud;" He's bang on. I'm curious what his "other companies" were, that they became a source of such financial pressure. One would think a payroll middleman has the easiest job in the world next to printing money. Companies put money in the kitty, you disburse the monies to other parties and take a cut. HN crew could probably set up an event-sourced system with Lambda to automate it all. 8000 employees, that does not seem like a lot?
- speby 7y ago
  > One would think a payroll middleman has the easiest job in the world next to printing money. Companies put money in the kitty, you disburse the monies to other parties and take a cut. HN crew could probably set up an event-sourced system with Lambda to automate it all. 8000 employees, that does not seem like a lot? Oh falling into the "could built it in a weekend" trap? Go right ahead, start a payroll company from scratch that can correctly pay, with proper auditing, checks and balances, any employee in the US (nevermind international) as quickly as possible, deal with wage garnishments, special deductions (401Ks, IRAs, FSA, HSA, and so on, part-time hourly and full-time salaried, bonuses with net-to-gross and gross-to-net, commissions for sales people along with "draw").... annnnnnnnd go!
  - devchix 7y ago
    Wage garnishments! Nobody mentioned anything about wage garnishments! :washes hands: Heh, I beg your indulgence for my cheeky comment, I of course know nothing of this matter, it seems easy, as all those task you mentioned can be converted to single rules. Not a weekend worth of work, but perhaps 20 weeks worth of work for a prototype?
    - djrogers 7y ago
      > it seems easy, as all those task you mentioned can be converted to single rules. Single rules, yes. For each State in the US. And every other country in the world. And that can change at any time of the year. Oh, and nobody form those various state and federal government agencies are reaching out to tell you when and what is cahnging. And GP just listed a few things off the top of his head - there are literally hundreds of complexities in doing this that he glossed over...

by certmd 7y ago

braythwayt 7y ago

Is there a non-paywall way to read this?

SpikedCola 7y ago
https://pastebin.com/xeUmgmkR https://pastebin.com/xeUmgmkR
- braythwayt 7y ago
  Thank you!
dudus 7y ago
You can subscribe to this newsletter and get the full texts by email
mcintyre1994 7y ago
He sends the full articles on his mailing list - the link is at the bottom of that article but if that's behind the paywall too it's here: https://link.mail.bloombergbusiness.com/join/4wm/moneystuff-signup https://link.mail.bloombergbusiness.com/join/4wm/moneystuff-...
stefan_ 7y ago
Outline works: https://outline.com/ktXMjW https://outline.com/ktXMjW The easiest, though, is to simply subscribe to his newsletter, which has all the articles in full. There is rarely an edition I find myself immediately archiving.
bwan 7y ago
You should be able to read it by disabling javascript.

devchix 7y ago

I love it this part: "The guy with a button that says “Steal $30 Million of Paychecks” doesn’t press it the first chance he gets. That would be stealing! He is a moral human being, he has standards, he stays well away from that button even if he is also simultaneously running a bunch of complicated frauds. You can look yourself in the eye when you’re running a complicated fraud;" He's bang on. I'm curious what his "other companies" were, that they became a source of such financial pressure. One would think a payroll middleman has the easiest job in the world next to printing money. Companies put money in the kitty, you disburse the monies to other parties and take a cut. HN crew could probably set up an event-sourced system with Lambda to automate it all. 8000 employees, that does not seem like a lot?

speby 7y ago
> One would think a payroll middleman has the easiest job in the world next to printing money. Companies put money in the kitty, you disburse the monies to other parties and take a cut. HN crew could probably set up an event-sourced system with Lambda to automate it all. 8000 employees, that does not seem like a lot? Oh falling into the "could built it in a weekend" trap? Go right ahead, start a payroll company from scratch that can correctly pay, with proper auditing, checks and balances, any employee in the US (nevermind international) as quickly as possible, deal with wage garnishments, special deductions (401Ks, IRAs, FSA, HSA, and so on, part-time hourly and full-time salaried, bonuses with net-to-gross and gross-to-net, commissions for sales people along with "draw").... annnnnnnnd go!
- devchix 7y ago
  Wage garnishments! Nobody mentioned anything about wage garnishments! :washes hands: Heh, I beg your indulgence for my cheeky comment, I of course know nothing of this matter, it seems easy, as all those task you mentioned can be converted to single rules. Not a weekend worth of work, but perhaps 20 weeks worth of work for a prototype?
  - djrogers 7y ago
    > it seems easy, as all those task you mentioned can be converted to single rules. Single rules, yes. For each State in the US. And every other country in the world. And that can change at any time of the year. Oh, and nobody form those various state and federal government agencies are reaching out to tell you when and what is cahnging. And GP just listed a few things off the top of his head - there are literally hundreds of complexities in doing this that he glossed over...