The $900 million wire that wasn't final
Patrick McKenzie (patio11) reads his 2022 Bits about Money essay "Finality does not exist in payments." It argues that how final a payment is depends on the rails, the parties, and the governing law, ...
8 Loka 33min
Why banks pay you to use their credit cards
Patrick McKenzie (patio11) reads his Bits about Money essay on how credit cards make money. The prompt was a listener who wondered how a card can include free travel insurance for someone who never ca...
1 Loka 25min
Stranded? Who pays when air travel breaks
Patrick McKenzie (patio11) got stranded overnight after a backhoe severed a single fiber optic cable, knocking out air traffic control across much of the eastern US. His airline declined to pay for th...
25 Syys 41min
Forced vacations are a fraud control
Patrick McKenzie (patio11) reads his Bits About Money essay "Financial systems take a holiday" (originally published February 2024), prompted by a conversation with a prior guest about how even exchan...
17 Syys 28min
Everyone wants to be your wallet
Patrick McKenzie (patio11) reads his Bits About Money essay on the business of wallets, with new commentary, prompted by paying his barber $100 over Venmo and wondering why PayPal so badly wants to be...
3 Syys 33min
How AI detection actually works, with Pangram’s Max Spero
Patrick McKenzie (patio11) is joined by Max Spero, co-founder and CEO of Pangram Labs, which builds models that identify AI-generated text and images. Max goes under the hood to explain how AI detecti...
27 Elo 1h 4min
Two banks can't agree on fourth-grade math | Alex Elliott
Patrick McKenzie (@patio11) is joined by Alex Elliott (@alexpotato), who has spent his career in SRE and operations roles at financial firms ranging from ten-person fintechs to global investment banks...
20 Elo 1h 3min
LLMs and the economics of Evil, Inc., with Manish Goregaokar
Patrick McKenzie (patio11) is joined by Manish Goregaokar, a senior software engineer and member of the Rust security response team, to discuss what LLMs do to the cost side of running a sophisticated...
13 Elo 1h 2min
