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Artwork for Complex Systems with Patrick McKenzie

Complex Systems with Patrick McKenzie (patio11)

Patrick McKenzie
Cryptocurrency
Banking
Financial Technology
Real Estate
Fraud
Deposit Insurance
Stablecoins
Artificial Intelligence
Credit Card Rewards
Large Language Models
Anti-Money Laundering
Banking Crisis
Debanking
Real Estate Investing
Know Your Customer
Property Taxation
Appraisal Districts
Tether
Interchange Fees
Credit Card Industry

We live in a world where our civilization and daily lives depend upon institutions, infrastructure, and technological substrates that are _complicated_ but not _unknowable_. Join Patrick McKenzie (patio11) as he discusses how decisions, technology, culture, and incentives shape our finance, technology, government, and more, with the people who built (and build) those Complex Systems.

PublishesWeeklyEpisodes92Founded2 years ago
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InvestingBusiness

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Artwork for Complex Systems with Patrick McKenzie

Latest Episodes

Patrick McKenzie reads from his 2024 Bits About Money essay on ACATS, the Automated Customer Account Transfer Service that governs how Americans move investment accounts between brokerages, then updates it with regulatory developments (and industry i... more

Patrick McKenzie (patio11) is joined by Aaron Brown, author of Wrong Number, to examine why institutions that produce bad statistics face so few consequences for doing so. They trace the pattern from Aaron's 1975 summer job, where two credentialed ex... more

The improbable but true story of how non-profits operating a private intelligence agency to combat terrorism decided to interfere with campaign infrastructure in a U.S. election.

This piece includes original public interest reporting, following on t... more

Patrick McKenzie reads from his latest Bits About Money essay, walking through why bank fraud charges are a prosecutor's favorite tool, how the Bank Secrecy Act's surveillance regime is designed to force criminals into impossible tradeoffs, and why l... more

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Recent Guests

Aaron Brown
Author of Wrong Number and Reason video series on statistics misuse
Episode: Wrong numbers and why they survive, with Aaron Brown
Ian Zabulski
مرتبط with Check (payroll processing)
Check
Episode: Payroll, pins, and punch cards
Philip Kiely
Author of Inference Engineering; early Baseten employee
Baseten
Episode: Inference engineering and the real-world deployment of LLMs, with Philip Kiely
Ruxandra Teslo
Public intellectual and scientist focused on improving biopharma productivity
University of Cambridge, Sanger Institute
Episode: We should stop burning pharma trials’ lab notes, with Ruxandra Teslo
Ben Reinhardt
Founder of Speculative Technologies, a focused research organization
Speculative Technologies
Episode: The economics of discovery, with Ben Reinhardt
Billy Gallagher
CEO of Prospect, focusing on equity management for employees at tech companies
Prospect
Episode: Understanding equity at tech companies, with Billy Gallagher of Prospect
Chris Best
CEO of Substack
Substack
Episode: How blogging went legit, with Substack CEO Chris Best
Emmett Shear
Co-founder of Twitch and current CEO of Softmax, involved in AI alignment discussions.
Softmax
Episode: AI alignment, with Emmett Shear
Will Wilson
CEO of Antithesis
Antithesis
Episode: Building software that survives contact with reality, with Will Wilson

Host

Patrick McKenzie
Host of Complex Systems; builds and discusses systemic thinking across finance, technology, and policy.

Reviews

4.9 out of 5 stars from 439 ratings
  • Great episode with Des

    Super conversation, v insightful

    Apple Podcasts
    5
    MarkhamN
    Ireland5 months ago
  • Top tier. Patrick is an eloquent nerd and the podcast sings for that reason alone. But you will also learn many interesting and useful nuances of how the world works, and having that understanding , you will better appreciate the wonders of civilization that surround you.

    Podcast Addict
    5
    scmccarthy
    5 months ago
  • Informative and entertaining!

    Patrick consistently puts out episodes on things that I don’t think I would be interested in but I end up being interested in it

    Apple Podcasts
    5
    supra supremacy
    United States6 months ago
  • Great show, fun people, but sometimes missing links in show notes

    Same as title with the addition that transcripts I’ve viewed are great!

    Apple Podcasts
    5
    G_Cracker
    United States8 months ago
  • Good Stuff

    Smart people discussing interesting things.

    Apple Podcasts
    5
    Thin Man Now
    United States8 months ago

Listeners Say

Key themes from listener reviews, highlighting what works and what could be improved about the show.

The show's mix of technical detail and real-world implications resonates with professionals.
Listeners praise the depth and rigor of conversations and guests.
Some praise the host's clear, nuanced explanations, though a few note audio or show-note gaps.

Chart Rankings

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Talking Points

Recent interactions between the hosts and their guests.

Wrong numbers and why they survive, with Aaron Brown
Q: Hi, everybody. My name is Patrick McKenzie, and I'm here with Aaron Brown. What motivated you to write Wrong Number and explore misuse of statistics in public discourse?
Brown explains that the motivation came from witnessing frequent, high-stakes misinterpretations of data in public policy, finance, and media, and the need to understand how institutions propagate incorrect numbers and how skepticism and reproducibility can help.
Understanding government procurement, with Luke Farrell
Q: Can I give a tiny example of this?
Yeah. So we got back to the United States recently after 20 years in Japan, and so we needed to find health insurance.
How blogging went legit, with Substack CEO Chris Best
Q: What properties do you want from epistemic infrastructure?
Independence and the ability to voice out-of-consensus ideas while being rewarded for doing so.
AI alignment, with Emmett Shear
Q: Where can people follow you and your work on the Internet?
I am at softmax.com, softmax.com.
Killing viruses with light, with Jacob Swett
Q: What are some of the environments where Far UVC should be deployed?
It should be widely deployed in high-risk environments like classrooms, gyms, restaurants, and long-term care facilities.

Audience Metrics

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Frequently Asked Questions About Complex Systems with Patrick McKenzie

What is Complex Systems with Patrick McKenzie about and what kind of topics does it cover?

This show explores how institutions, infrastructure, and incentives shape finance, technology, government, and everyday life. Episodes center on deep-dive analyses of complex systems—from banking and payments to public policy and regulatory ecosystems—often featuring data-driven reasoning, historical context, and thoughtful interviews with domain experts. Listeners can expect rigorous discussions that connect technical detail with real-world impact, delivered in a thoughtful, engineering-minded style that prizes clarity and skepticism about conventional wisdom. A standout is the host's ability to bridge abstract system thinking with practical consequences for businesses, policymakers, and technologists, making it a strong fit for listeners ... more

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Which podcasts are similar to Complex Systems with Patrick McKenzie?

These podcasts share a similar audience with Complex Systems with Patrick McKenzie:

1. Conversations with Tyler
2. Money Stuff: The Podcast
3. Cheeky Pint
4. Odd Lots
5. EconTalk

How many episodes of Complex Systems with Patrick McKenzie are there?

Complex Systems with Patrick McKenzie launched 2 years ago and published 92 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

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What guests have appeared on Complex Systems with Patrick McKenzie?

Recent guests on Complex Systems with Patrick McKenzie include:

1. Aaron Brown
2. Ian Zabulski
3. Philip Kiely
4. Ruxandra Teslo
5. Ben Reinhardt
6. Billy Gallagher
7. Chris Best
8. Emmett Shear

To view more recent guests and their details, simply upgrade your Rephonic account. You'll also get access to a typical guest profile to help you decide if the show is worth pitching.

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