Patrick McKenzie Profile picture
Nov 11 10 tweets 2 min read
Pro-tip: also works for getting hired at many places.

And, as long as I'm here: many conference talks end up on Youtube. Conference talks are often by senior employees and almost always include their email address on an early or late slide.
Plus either of these allows you to put a credible proof-of-human-work into the first paragraph of a cold email, at least until GPT advances a bit.

"I really enjoyed your talk on XYZ, particularly the point about ABC. I've written on that before here: $LINK.

Could we perhaps..."
"... chat for 15-30 minutes about what you are doing recently at $COMPANY?"

You can be pretty explicit about it being a hiring oriented conversation if you want, but the person you are emailing is not stupid. That is why you are emailing them, after all.
"Isn't that an imposition?"

No no no no no no no it is not! The reason the company paid for them to go to the conference in the first place, the reason their email is there, is to find plausible candidates to potentially hire! YOUR TIME IS VALUABLE AND THEY WANTED TO BUY IT.
"But how do I know if this person has hiring authority?"

Sometimes either they'll explicitly say they do or the nature of their job makes it obvious, but regardless, having one human inside the building who enjoyed a conversation with you and will say that to anyone who asks...
... is far, far more effective than the world's most impressive PDF file forwarded to a team of sourcers who will spend ~60 seconds evaluating it.
Also, for somewhat unfortunate class-related reasons and neither fortunate nor unfortunate reasons about the psychology of humans, people tend to have a much better opinion of professionals who message "I will give you the opportunity to sell me on a job" versus "I want a job."
You (yes, you!) have many options. You have an in-demand skill set. Sensible people with hiring authority who give this an ounce of thought should immediately do this math with respect to any candidate.

But that math is not necessarily done, and so presentation *matters.*
And so prior to talking to potential employers I recommend putting on some classic Beyonce and humming "I could get another one of you in a minute so don't you ever ever ever get to thinking you're indispensable."

Don't say that out loud, but exude it.
Mentally: "I mean, I was capable of finding your email address to have an interesting conversation. But I can find a lot of email addresses that would lead to oh so many interesting conversations. Interesting conversations are much more common than the opportunity to hire me is."

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Patrick McKenzie

Patrick McKenzie Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @patio11

Nov 11
Tether looks to be something like 35:1 levered long on "other assets" and "secured loans", by the way, according to their transparency report dated Nov 10th. The snapshot was taken on September 31st, so they have *again* become undercollateralized.

assets.ctfassets.net/vyse88cgwfbl/1…
I wrote about this in the wake of the Luna collapse, and the mechanism is exactly the same, so just update the numbers and re-run the analysis.

It is not possible to run a book with 12% risk-on assets and 0.36% equity w/o taking impairments.

kalzumeus.com/2022/05/20/tet…
Tether lies about it in the present and will like about it in the future much as they have lied about it in the past.
Read 7 tweets
Nov 11
I'm getting a lot of salaryman practice recently in reading updates from crypto firms that say a very different thing than they will be read as saying, in a way which is extremely, extremely intentional.
I expect that as pretty de rigeur from e.g. Bitfinex/Tether. It has happened many times recently from better regarded firms.
"Do you have more you can share there?"

Sometimes the price of getting in a position to know things is being able to credibly keep commitments to people.

Regardless: you probably model me as thinking the situation is worse than most people in crypto think it is.
Read 6 tweets
Nov 10
"Diagram out the consequences to Bank of America USD at Chase bank being indefinitely frozen" would actually be a pretty good interview question for a lot of jobs.
"Can you sketch them for me?"

A war room in effectively every financial institution in the country, for starters.
"Can Bank of America have deposits at Chase bank?"

I mean, straightforwardly yes? They do?

"Doing what?"

All. The. Things.
Read 4 tweets
Nov 10
Now normally you'd think "But wait, why does Tether need market stabilization? They're a money market fund holding perfectly liquid Treasuries and generate risk-free yield."

But some Tether co-conspirators are apparently a little worried what happens if they stay depegged.
I've mentioned this before but I am short an insignificant-to-me amount of money on Tether largely for entertainment value and getting my friends/etc off my back about not being a DeFi user.
Which I mention out of high conscientiousness; I've called them the largest fraud since Madoff in print for years, which should both count as sufficient reputational skin in the game and also alert everyone to "Wow I think Patrick possibly has a point of view here."
Read 8 tweets
Nov 9
In other crypto news, Solend is mostly unable to function due to a combination of congestion and market movements, and depositors there will likely suffer some bad debt.

From the (public) Discord ~20 minutes ago:
"Explain that."

Solend is a protocol which operates pools where depositors put in various assets (to earn an interest rate) and can borrow against their assets (paying an interest rate). Rates are dynamic and per asset.

Tracking so far?
OK, someone (a whale) put in a lot of Solana and withdrew USDC (dollars). They now owe the protocol, and by extension, other users dollars. If the value of their Solana declined precipitously, the protocol was supposed to liquidate the SOL. Mechanisms here are complicated.
Read 14 tweets
Nov 7
I’m genuinely confused by this kerfuffle about FTX and Alameda, where a) I model them as the least likely operation in crypto to have blown up due to incompetence and b) they have adopted the reasoned and measured comms strategy used by banks that are factually in crisis.
If Bank of America ever tweets that it has all depositors’ money and that wire transfers are happening as normal, every professional in finance would read that exactly the same way: global financial calamity.
“Then how do you get out word that wires are going out?”

You send your tweets into FedWire and your PR team carefully laughs and says nothing quotable if a particularly stupid reporter ever asks you about outgoing wires.
Read 7 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


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

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

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

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!

:(