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Patrick McKenzie
@patio11
, 3 tweets, 3 min read Read on Twitter
@TheJonFedor @FreakyTheory @benthompson @amazon Physical books are sold wholesale, where the retail outlet (Amazon) can decide the price. Many publishers contract with Amazon on an "agency model", where the publisher sets a mandatory price and Amazon gets to keep the cut.

Amazon and publishers have VERY different incentives.
@TheJonFedor @FreakyTheory @benthompson @amazon Amazon will happily undercut MSRP on physical books, because they're more efficient than every other seller of books, and your margin is their opportunity.

Amazon will happily undercut *themselves* on Kindle, because it reorients reading behavior to start in Amazon ecosystem.
@TheJonFedor @FreakyTheory @benthompson @amazon Publishers basically don't want to turn off Amazon distribution but really, really don't want a world in which Amazon owns every producer and consumer of the written word and then says "Actually, strictly speaking... we don't need you, Big Five. At all."

So they set prices high.
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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
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Patrick McKenzie
@patio11
Stripe is hiring. stripe.com/jobs

I've got some thoughts:
Why join Stripe? It's plausibly among the most leveraged opportunities anywhere to contribute to your core goals over the next N years, by growing the GDP of the Internet.
This company covers a sprawling remit of human behavior: everywhere the Internet touches commerce. There's a fractal nature to both the problem and our operations. We abstract so much that our users probably don't realize how much work is being done.
Read 15 tweets
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Patrick McKenzie
@patio11
Trying to reserve a room for a business trip and optimizing on cost. One option: Monday through Saturday: $800 a night.

Well that's ridiculous. Let me try Monday through Friday.

Hotel's website: "Welcome business traveler! $1,200 a night."

OK, well played, well played.
Revenue maximization for hotels and airlines is so fascinating to me, because clearly there's a really transactional way to approach this and a strong desire to remain a traveler's go-to choice for their next 1,000 nights.
That might be an interesting job interview problem: you, a web developer, need to identify business travellers for the purpose of ripping their eyeballs out.

Go.
Read 4 tweets

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Abhinav Agarwal
@AbhinavAgarwal
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short thread on books I have read, starting with sometime late 2017...
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🇮🇳 सत्यम, शिवम, सुंदरम 🇮🇳
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Ben Rodri🐧⚡️
@b17z_
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