We should stop burning pharma trials’ lab notes, with Ruxandra Teslo
Patrick McKenzie (patio11) is joined by Ruxandra Teslo to discuss why drug development keeps getting more expensive despite revolutionary new treatment modalities from GLP-1 agonists to gene therapies...
22 Tammi 1h 17min
Your support rep is also trapped in this call, with Des Traynor of Intercom
Patrick McKenzie (patio11) sits down with Intercom co-founder Des Traynor to examine customer support through the lens of Conway's Law, Goodhart's Law, and several decades of accumulated organizationa...
15 Tammi 53min
The magic spell that makes banks give you your money back
Patrick McKenzie (@patio11) reads his latest Bits about Money essay explaining why he “loves Regulation E more than any rational person does.” He explains how Reg E created a privately-administered le...
8 Tammi 37min
2025 in review, with Sammy Cottrell
Our annual year-in-review episode covers some recurring themes from 2025 and some behind-the-curtains discussion of running a podcast. Patrick McKenzie (patio11) sits down with producer Sammy Cottrell...
3 Tammi 49min
Gift cards and the fraud supply chain
For this week's holiday-inspired Complex Systems, Patrick reads his essay from Bits about Money on the gift card paradox: a legitimate payments rail, yet also a primary vector for fraud that leaves vi...
26 Joulu 202513min
Understanding perpetual futures
In this episode, Patrick McKenzie (patio11) walks through how perpetual futures work, from funding rates to liquidations to the surprise of automatic deleveraging. Perps are the dominant trading mecha...
11 Joulu 202524min
The economics of discovery, with Ben Reinhardt
In this episode, Patrick McKenzie (patio11) is joined by Ben Reinhardt, founder of Speculative Technologies, to examine how science gets funded in the United States and why the current system leaves m...
4 Joulu 202545min
Understanding equity at tech companies, with Billy Gallagher of Prospect
Why do billions of dollars of stock trade hands based on napkin math and vibes? Billy Gallagher, CEO of Prospect and former Rippling employee, joins Patrick McKenzie (patio11) to walk through the info...
20 Marras 20251h 17min
