Patrick Mckenzie

I work for the Internet, at @stripe, mostly on accelerating startups. Opinions here are my own.

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Book Recommendations:

PM

Recommended by Patrick Mckenzie

@visakanv Can I show you the exact moment at which I fell utterly in love with a book? Extremely minor spoiler for the Dragon’s Banker incoming (it will spoil the title): (from X)

The Dragon's BankerA standalone novel of epic fantasy & adventure capitalism from the author of Vick's VulturesFinance: The lifeblood of any country’s beating heart and the life’s work of Sailor Kelstern — Merchant Banker. While wizards brood in their towers and great warriors charge into battle Sailor is more interested in the price of ore, herbs, and alchemicals carried by the trade ships. But when a spell of bad fortune and bitter rivalry leaves him scrambling to turn a profit on little more than winds and whispers, one such whisper catches Sailor’s ear— a dragon has been seen in the west. Sailor soon finds that the dragons are very real, and not at all what he expected. And they practice a very different sort of economy — one of subterfuge and fire.With bonus novelette: Forego QuestWhat if you were the hero of every song, story, and legend?What if you didn’t want to be?Find out in this hilarious fantasy short.

PM

Recommended by Patrick Mckenzie

This is one of my favorite books of last several years. Extremely, extremely relevant to anyone who works in finance. Also, it's a crypto book without being a crypto book. https://t.co/DUhVEQW5es (from X)

An entertaining, deeply informative explanation of how high-level financial crimes work, written “with verve and wit” (The Sunday Times, London) by an industry insider who’s an expert in the field. The way most white-collar crime works is by manipulating institutional psychology. That means creating something that looks as much as possible like a normal set of transactions. The drama comes later, when it all unwinds. Financial crime seems horribly complicated, but there are only so many ways you can con someone out of what’s theirs. In Lying for Money, veteran regulatory economist and market analyst Dan Davies tells the story of fraud through a genealogy of financial malfeasance, including: the Great Salad Oil swindle, the Pigeon King International fraud, the fictional British colony of Poyais in South America, the Boston Ladies’ Deposit Company, the Portuguese Banknote Affair, Theranos, and the Bre-X scam. Davies brings new insights into these schemes and shows how all frauds, current and historical, belong to one of four categories (“long firm,” counterfeiting, control fraud, and market crimes) and operate on the same basic principles. The only elements that change are the victims, the scammers, and the terminology. Revealing some of the most famous frauds of the modern age, Davies explains how fraud has shaped the entire development of the modern world economy. For those “who like their true-crime stories laced with economics will enjoy these forays into the dark side” (Kirkus Reviews) this is a gripping and vivid look at modern market societies.

PM

Recommended by Patrick Mckenzie

@visakanv @Austen "Why not?" Because while there was interesting sociological work the book doesn't have a comparative advantage over Ramit's I Will Teach You To Be Rich for people working in the tech industry, and you *probably* have more interesting goals. (from X)

As seen on the new NETFLIX series! The groundbreaking NEW YORK TIMES and WALL STREET JOURNAL BESTSELLER that taught a generation how to earn more, save more, and live a rich life—now in a revised 2nd edition. Buy as many lattes as you want. Choose the right accounts and investments so your money grows for you—automatically. Best of all, spend guilt-free on the things you love. Personal finance expert Ramit Sethi has been called a “wealth wizard” by Forbes and the “new guru on the block” by Fortune. Now he’s updated and expanded his modern money classic for a new age, delivering a simple, powerful, no-BS 6-week program that just works. I Will Teach You to Be Rich will show you: • How to crush your debt and student loans faster than you thought possible • How to set up no-fee, high-interest bank accounts that won’t gouge you for every penny • How Ramit automates his finances so his money goes exactly where he wants it to—and how you can do it too • How to talk your way out of late fees (with word-for-word scripts) • How to save hundreds or even thousands per month (and still buy what you love) • A set-it-and-forget-it investment strategy that’s dead simple and beats financial advisors at their own game • How to handle buying a car or a house, paying for a wedding, having kids, and other big expenses—stress free • The exact words to use to negotiate a big raise at work Plus, this 10th anniversary edition features over 80 new pages, including: • New tools • New insights on money and psychology • Amazing stories of how previous readers used the book to create their rich lives Master your money—and then get on with your life.