I like this heuristic, and have a few which are similar in intent to it:
Hiring efficiency:

How long does it take, measured from initial expression of interest through offer of employment signed, for a typical candidate cold inbounding to the company?

What is the *theoretical minimum* for *any* candidate?
How long does it take, as a developer newly hired at the company:

* To get a fully credentialed machine issued to you
* To get a fully functional development environment on that machine which could push code to production immediately
* To solo ship one material quanta of work
How long does it take, from first idea floated to "It's on the Internet", to create a piece of marketing collateral.

(For bonus points: break down by ambitiousness / form factor.)
How many people have to say yes to do something which is clearly worth doing which costs $5,000 / $15,000 / $250,000 and has never been done before.
How long would it take an employee, utterly convinced that the CEO needed to know a material fact urgently, to communicate it to the CEO.

How long would it take the CEO to acknowledge receipt. (Would it be by their designate?)
Given that you have the full name of a coworker, how long does it take to determine:

* who their manager is
* what their title or role is
* what their primary project as of today is
Everything breaks and the world is on fire.

How long:

* Until the first responder responds
* Until the second responder responds
* Until someone says the local equivalent of "I am in charge of the incident."
A coworker is in obvious distress for uncertain reasons.

How long until someone offers to help?

How long until someone factually helps effectively?
An idea is floated for a new business unit / product / whatever the local equivalent is given company/industry/stage.

How long until it launches into the hands of customers who perceive it as a generally available offering?
How many keystrokes would be required to do an A/B test of the H1 on the homepage?

How many minutes from first keystroke to first person seeing it in production?

(I'm being very generous to the software industry here. *sigh*)
How long does it take an email from an unrecognized email address to the most generic tier 1 support alias to reach a senior responsible engineer / lawyer / executive given clear relevance to them?
What percentage of emails which an omnipotent, benevolent deity would route to a senior responsible engineer / lawyer / executive factually make it from tier 1 customer support to a senior responsible engineer / lawyer / executive?
You might sensibly read these heuristics and think "Hmm, you seem to over-focus on speed. Aren't quality, price, etc also really important?"

These questions don't *really* test for speed. They test for *repeatable competence at scale*, which is another thing entirely.
Incidentally these make good questions to get informal reads on companies and/or fill the "So, any questions for me?" part of interviews, because they're much more specific than "Do you like working here?", less likely to elicit social desirability bias in answers, etc.

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More from @patio11

Feb 18
An interesting stat I heard on Reddit and which has the ring of truth: 99% of the cost of international logistics for oceangoing trade happens in port and as a result all distances at sea are basically equivalent desirability (module time-sensitive goods, etc).
“The box” (containers and related industry) really did remake the world as we know it.
“But carbon footprint is…”

Subject to exactly the same logic. If you care about it you should care a lot about what *precisely* happens in ports.
Read 4 tweets
Feb 18
Embedded finance has been a very hot topic among fintech geeks for the last few years. This week's Bits about Money goes into why I think it will be transformative for SMB banking.

bam.kalzumeus.com/archive/changi…
I often think technologists have a poor model of banking, assuming that banks are stupid, innumerate, and incapable of employing smart technologists. All of these are very obviously false.

The bigger reason why SMB banking is mediocre is more nuanced.
It mostly comes down to "SMBs are essentially co-extensive with the sum of all human economic activity. There is no model for the sum of all human economic activity which is a good model except for the sum of all human economic activity. Now, try to write a design doc for them."
Read 4 tweets
Feb 15
Fractally bad decisions, where zooming in on any part reveals an infinite variety of other bad decisions.
“But the cash drag!”

“But buying a muni in a tax advantaged account, accepting a lower interest rate because munis are themselves tax advantaged!”

“But the idiosyncratic risk!”

“But the overallocation to bonds!”
It’s not the literal worst choice you could make! It’s just… even if you had a theory for why it would be a good choice, it’s pathologically bad.
Read 5 tweets
Feb 11
I like this sort of microintervention on the global economy delivered at scale.

Most businesses probably shouldn't have to understand how most of their customers prefer to buy things, particularly internationally. That's a minor implementation detail.
We have a lot more in the works here, including e.g. allowing you to one-click opt-in to a class of options here where accepting them is Pareto optimal (lower cost, higher conversion rate, roughly equivalent terms in expectation).
And, of course, if you're using Checkout or one of the other integration options where we're painting pixels for you, perhaps your plucky pixel painters would prefer to paint pixels precisely predicated on productively picked projects for your particular product.
Read 4 tweets
Feb 7
In "surprisingly good experiences in government and healthcare IT", the HER-SYS system for tracking covid symptoms through self-reports also includes same symptoms input by healthcare professionals and public health workers (typically after followup call or on-site health check).
I kinda feel a little unhappy that a nationwide database with a competent web frontend that can join records by primary key is surprisingly novel, but I will take competence where I can get competence.
(Also feels surprisingly novel to read doctor's notes, which is something I've had very few experiences of in the healthcare system of either nation I've lived in. An interesting look at a norm in a state of flux.)
Read 5 tweets
Feb 7
I should diagram this infra out for a BAM episode once I’m feeling better.

And, to tweak crypto’s nose a bit: it /would certainly be more efficient to replace a decentralized network with a central actor doing all functions.
(It is not widely understood by retail investors that while a stock, for example, is *listed* on one stock exchange it *trades* on many separate physically distinct venues which they access simultaneously through their broker.)
Another fun example of a thing not well understood: decoupling brokerages and clearing functions is in investor interest but sometimes prevents some investors from doing something they want to do.

See the RobinHood/GameStop bruhaha.
Read 5 tweets

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