Profile picture
Patrick McKenzie
@patio11
, 3 tweets, 1 min read Read on Twitter
Interesting article about a new Japanese bank branch experience without people or paper, which seems designed to teach offline users “You could have done this online and saved a trip. Next time maybe?”

toyokeizai.net/articles/-/263…
The rare corporate initiative where a new product’s success is measured by how high their churn rate is.
(I described this as “no people” but apparently they have 5 roving concierges to tell people how to work the ATMs/tablets.)
Missing some Tweet in this thread?
You can try to force a refresh.

Like this thread? Get email updates or save it to PDF!

Subscribe to Patrick McKenzie
Profile picture

Get real-time email alerts when new unrolls are available from this author!

This content may be removed anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

More from @patio11 see all

Profile picture
Patrick McKenzie
@patio11
Matt Levine, describing in vivid detail how the financial industry creates value, by taking an enterprise which is very risky and transforming it into a selection of different risk/reward options, allowing investors at different tolerances to join forces:

bloomberg.com/opinion/articl…
In the instant case the risky enterprise is "a bank", which might sound like a bit of financial industry navelgazing, but this process generalizes broadly to many endeavors which have bundled risks.

Finance is happy to dice them up fine and allocate them to people who want them.
Silicon Valley is like the finance industry in this fashion: the ecosystem successfully funds companies from birth through (picking a milestone) IPO where observationally no single investor was OK with taking *every* risk for the business.
Read 5 tweets
Profile picture
Patrick McKenzie
@patio11
Interesting thought from @tylertringas , whose EarnestCapital launched today. earnestcapital.com
@tylertringas It takes 3 million dollars to open a McDonalds. 3 million dollars. Three MILLION dollars.

Do you know how much SaaS you can write with $3 million? It is a lot of SaaS.
@tylertringas The United States has thriving ecosystems which ensure there is sufficient capital allocated to McDonalds, such that if a neighborhood would be well-served by having not-phenomenal burgers available at a low price point, it will get a McDonalds funded trivially.
Read 7 tweets
Profile picture
Patrick McKenzie
@patio11
This is ignored by the discourse of “selling shovels in a gold rush.” The bulk of the tech economy is B2B services.

(And this doesn’t even work as a metaphor because the actual gold rush kindled railroads and national-scale banking not shovel manufacturers.)
“Startups selling to startups” is often assumed to be much more of a thing than it actually is, for what it is worth. The typical SaaS company’s book of business mirrors that of the accounting profession.

Startups hire accountants, but their revenue contribution not material.
That was a bit of accounting humor.
Read 3 tweets

Related threads

Profile picture
🏳️‍🌈⚡Gloria - The Trans Giant⚡🏳️‍🌈
@TheTransGiant
On Friday night I was harassed on the way home from the pub, it was a quiet stretch of road with no people or cars and a car full of men pulled up and shouted transphobic abuse at me, "You're a man", "tr**ny" all the usual crap.
Fortunately another car came along and beeped at them to move, so nothing came of it, but it was pretty scary. They shouted at me for about a minute, and every second felt like they were going to get out and come for me.
As someone who has been the victim of a violent hate crime I could see all the signs of another one. I wish I could say this was an isolated incident, but I could recount a dozen similar close calls off the top of my head.
Read 22 tweets
Profile picture
b misses yoonjin
@myoonies
yoonmin au

— Jimin brings his baby sister to a skate park, immediately wary of all the stereotypical “bad boys”. He realizes how wrong his judgment is when a tatttoed man with a crude skateboard comes up to his sister, offering to hold her hand as she learns to go down a ramp.
「 yoonmin aesthetics 」
「 yoongi 」
☪︎ punk isn’t dead
☪︎ hyung line friend squad
☪︎ works at an animal shelter
and helps at namjoons tat
shop
☪︎ studying at Seoul University
Read 228 tweets
Profile picture
🎄🔶🌸❄️Sakura To Yuki No Seirei❄️🌸🦋⚢⚧
@SakuraNoSeirei
So, I've waded through the Evangelical Alliance's new pastoral "guidelines" for interacting with trans people (ughh, the things I do to expose #transphobic #ciswits to the world), and let's just say it's time to tear this particular sh*t-bag a new hole.

1/n
CW: #Transphobia, #ConversionTherapy, #Zucker, #Religiously #driven #zealotry

2/n
So, straight off the bat, first page of text, the use of #language is . . . well, yeah, see for yourself:

"It is important to remember that transgender is not simply an issue to be debated;" - p5, #Transformed

*sigh*

When such language gets reinforced by insisting...

3/n
Read 176 tweets
Profile picture
江市コム
@Eshtarwind
I know u guys are itching for World cup, but anyway, I just finish LeSCa novel thanks to my friend lending me his copy, and so I would like to open a new thread on lesca novel #t7s
episode LeSCa novel talks of how LeSCa come to be, and also the background for the song "YELLOW". if you have time, maybe after reading this tweet, relisten/reread the meaning of that song and I bet all these fuzzy warm tingling feelings will come up to your chest
So the novel began with our Nishizono Honoka. Our Honoka came from Fukuoka 4th. Unlike Tokyo 7th that centers on entertainment, Fukuoka 4th centered on Fashion. She came from a family inheriting famous restaurant laden with history and is her hometown's pride
Read 66 tweets
Profile picture
Gravis McElroy
@gravislizard
let me tell you why it sucks so much to call the government about data errors
this is based on a conversation spurred by a friend who is having extremely bad and unforgiveable issues with this, but i thought i'd share with everyone
"why can't I just call in to a number and put in my SSN and answer a couple questions to have my password reset"

okay, well, it could be they have interpreted PCI or federal security regulations in a ridiculous way, but more likely it's like this
Read 34 tweets
Profile picture
Corey: We Are One
@spiritualtc
1) Q poses some interesting questions to us regarding Snowden and Hong Kong. I found a few interesting connections that you all may be able to expand on. The MAP is quite interesting.

#MAGA #QAnon #Snowden
2) We know that he stayed in The Mira Hong Kong.

“By late afternoon Mr Snowden’s temporary home had been identified by means of an elegant bedside lamp that appeared in footage of an interview he had given and matched those in the Mira.”

telegraph.co.uk/news/worldnews…
3) And he seemed quite welcomed:

“Hong Kong is famous for our freedom of expression and our defense of press freedom,” said Alan Leung, a legislator who heads Hong Kong’s Civic Party. “We should take [Snowden’s arrival] as complimentary.”

washingtonpost.com/world/asia_pac…
Read 51 tweets

Trending hashtags

#find #RatTrap #SethRich #Fact #medical #war #Military #embrace #Ciswits #Army #individual #SealedIndictments #Transforms #MissingPerson #IntelDrop #not #online #Qanon8chan #bigotry #corporations #fighting #New #Belfast #SlushFunds #MathematicallyImpossible
Follow Us on Twitter!

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!