patio11

16 ms·

121.
by patio11 5y ago
An aside for HNers, which I write as someone who had his first job in customer service: please remember, when interacting with customer service agents (and the various ops folks at companies that hire from very similar talent pools), that y
122.
by patio11 5y ago
Sorry that happened to you. As some HNers know I have a long-time hobby of working customer service state machines, and I'm going to take the liberty of writing the most effective resolution path here for the general case, in case you
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by patio11 5y ago
This comports with my general understanding of the matter. By total coincidence, I just wrote a newsletter on this topic (like, minutes ago), and it includes a description of triangular fraud, which is particularly relevant for e.g. sales o
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by patio11 5y ago
Yep. In particular I’d like to only be front paged when I’m writing well relative to my beat and my ability, not just because I have high name recognition or am better than the least interesting thing on the front page, which is a bar I thi
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by patio11 5y ago
Circle that bit of advice around Regulation E folks. (Not a lawyer but I have had a lot of experience citing Regulation E on behalf of various folks. It, unsurprisingly, works the way that regulators say it does.)
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by patio11 5y ago
If folks are curious, my initial email back was: “I’m responding to this out of abundance of charity, but given literally no identifying information in the email I think there is a high probability I am speaking to a script rather than a hu
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by patio11 5y ago
I had much the same reaction when reading this, as someone who corresponded with one of these individuals this week. The institution of bug bounties is structurally reliant on a huge wage gap between countries. “Picking the wrong country to
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by patio11 5y ago
I'm less good at poker than many people's model of me predicts. (Probably juuuuuust about good enough to do 2/5 profitably in Vegas, though I mostly play tournaments because they're more fun for me.)
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by patio11 5y ago
Due to my quirky position as a foreigner who works in the financial industry in Japan I will not comment on structural sources for observed pricing discipline, but if you're interested in this topic, you may enjoy the Japan Fair Trade
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by patio11 5y ago
I welcome comments in my inbox but, having long-ago had them on my blog, do not consider the lack of them a bug.
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by patio11 5y ago
"Never" is a strong word, but you're welcome to read the English-language reports of Japanese lenders which break this out for their consumer businesses. Factors which generally tend to depress it include low revolving credit
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by patio11 5y ago
Varies wildly by the day (and year); probably two hours at the median. I have an advantage in that this sort of thing was a hobby for me for 20 years and then it became very work-relevant the last 5. Someday I'll try to curate a readin
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by patio11 5y ago
Substantially correct on the first part. In particular, and depends on the region/processor/card brand, many SMBs will have interchange which has a fixed-per-transaction component in addition to a percentage fee, and that can be p
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by patio11 5y ago
FWIW: I think technologists are far too quick to jump to "I bet they want to do it for free marketing" and far too slow to think "I bet they have a large team of people who does almost literally nothing other than study this
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by patio11 5y ago
I would like to reiterate my standard disclaimer for this publication but if you want to bet that I don't understand how scheme fees are calculated that is a poor decision.
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by patio11 5y ago
So credit card issuers are pretty sophisticated with regards to this, and many of them track different user personas and use them to dice up their portfolio by archetypes. The "folks like us" archetype is one which is definitely t
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by patio11 5y ago
I'm happy to answer any questions or take suggestions for future issues if you have them, HN. Repeating something I've said before: this is the 3rd issue of a weekly newsletter, and its going to come out on every Friday for the fo
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by patio11 5y ago
The HN convention is for titles to generally very closely track original titles unless those are misleading/clickbaity/etc, and assume that HNers have the domain name to author map reasonably cached. (Thanks for the praise! Hope t
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by patio11 5y ago
When I was younger I had both aesthetic disgust and strong moral intuitions against monetization being driven by whales. These days, am far less sure of both. One of the claims which Kongegate’s CEO made, repeatedly, in presentations is tha
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by patio11 5y ago
If one has to do this frequently and in size the best way I’m aware of is Interactive Brokers, but for most customers doing $1k transactions (like me back in 2004 to pay my student loans) $8.50 and $10 are the same number but the $60 the be
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by patio11 5y ago
Wow, small world. (Give M my regards?) Logistics like international shipping are both a financial infra problem and an infra infra problem. I do think that the cost of small-scale shipping is going to come down to approach the ratable cost
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by patio11 5y ago
Consider this a pre-commitment to write someday, at excruciating length, why many of the features that Americans take for granted about mortgages depend on a) mortgage securitization (CDOs) and b) the U.S.‘s quixotic policy to massively sub
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by patio11 5y ago
A major purpose of writing these is to eventually convince folks who love cheap mortgages and well-funded pensions but hate CDOs that they have an incomplete model of how the world works and an inconsistent preference set.
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by patio11 5y ago
Happy to answer any questions or take requests for future issues, HN. (This is the second issue of my new weekly newsletter.) Edit to add: Incidentally, while I’m always thrilled when my stuff ends up on the front page, I’m also a member of
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by patio11 5y ago
Interestingly, Justin Sun has apparently withdrawn more than a billion in USDC from the Aave liquidity pool in apparent response to that. (It’s 2 AM in Tokyo and so I can’t elaborate for HNers who think that sentence is Greek. Short version
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by patio11 5y ago
When you think of the most complex operational challenge you'll see solved in your lifetime, is that the one that makes you excited about the future? If not, spend the trillions of dollars and years of widespread disruption to litera
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by patio11 5y ago
If HN has any requests for future topics in intersection of tech and finance, let me know. (I just kicked off this newsletter last Friday.)
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by patio11 5y ago
I have a love/hate relationship with both Twitter as my primary (for last while) writing outlet and threads specifically. I love writing and love talking with smart people. Twitter enables both things. The activation energy for me to w
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by patio11 5y ago
Can you email me some details at my HN handle at stripe.com? I will see if there is anything we can do. (P.S.: This is my only work inbox and I will always read emails for HNers with interest, which is true of many other people who work her
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by patio11 5y ago
The most common way to issue them is so-called "double trigger" vesting where you have both a) a service requirement (the time) and b) an event required (like IPO or sale). Since you have risk of forfeiture if IPO/sale does n

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