Complex Systems with Patrick McKenzie (patio11)

⁠⁠The $900 million wire that wasn't final

Payment finality functions as a complex techno-social construct rather than an absolute technical state, where the perceived irreversibility of transactions is governed by legal and organizational frameworks. While payment rails provide predictability, they rely on social rituals like "Hold Harmless" agreements to reso...

Why banks pay you to use their credit cards

Stranded? Who pays when air travel breaks

Forced vacations are a fraud control

Everyone wants to be your wallet

How AI detection actually works, with Pangram’s Max Spero

Two banks can't agree on fourth-grade math | Alex Elliott

LLMs and the economics of Evil, Inc., with Manish Goregaokar

The economics of putting germicidal light in every room, with Misha Gurevich and Vivian Belenky of Aerolamp

Cheap cognition, supercharged surveillance, and AI risks, with Garrison Lovely

What you're actually getting paid in, with Leila Clark

What LLMs can and can't do for writers, with Clara Collier of Asterisk Magazine

YouTube economics now, with Justin Kuiper

The structural footprint of a bank run

Forty ways to pay for coffee in Japan

The factory behind your home loan

How brokerage transfers actually work

Wrong numbers and why they survive, with Aaron Brown

Defendant, Censor, Politico, Spy

How the SPLC became financial infrastructure