Shows
Complex Systems with Patrick McKenzie (patio11)APIs of evil: studying fraud as infrastructurePatrick McKenzie (patio11) reads an essay about "industrial-scale" fraud and why it should be treated as a professional business process rather than a series of isolated accidents. He explains how fraudsters leverage specialized supply chains—shared CPAs, incorporation agents, and "least attentive" banks—to loot public funds. Patrick argues that the government’s "pay-and-chase" model is fundamentally broken and suggests that simple "proof of work" functions, like a 30-second cell phone video of a workspace, could provide the visceral signal that paperwork lacks, and examines the state’s lack of "object permanence" regarding serial fraudsters and how scaled data provides...
2026-02-1251 min
2025-02-1300 min
Patrick Boyle On FinanceCan Elon Musk Cut Two Trillion Dollars From the US Budget?Elon Musk and Vivek Ramaswamy are heading up Donald Trump's newly created Department of Government Efficiency which plans to take aim at wasteful government spending. On the campaign Elon Musk claimed that he could cut two trillion dollars in government spending. What would those cuts look like and how likely is Elon Musk to succeed? Does Elon Musk have too many conflicts of interest to do this job?
Subscribe to Patrick's interview channel here: https://www.youtube.com/@PBoyleInterviews
Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
...
2024-11-2528 min
Odd LotsHow Fraudsters Are Bilking the Government Out of Billions of DollarsAfter his victory, Donald Trump announced that Elon Musk and Vivek Ramaswamy would be leading up a new Department of Government Efficiency in order to crack down on wasteful, fraudulent spending inside the federal government. Setting aside the question of how effective this particular endeavor will be, the basic premise of cracking down on waste and going after fraudsters should generally be non-controversial. So what does fraud look like? How do companies bilk programs like Medicare and Medicaid for billions of dollars every year? And what can be done about it? On this episode, we speak with Jetson Leder-Luis...
2024-11-1845 min
Complex Systems with Patrick McKenzie (patio11)Picking Uncle Sam's pocket, with Jetson Leder-LuisIn this episode, Patrick McKenzie (patio11) is joined by economist and fraud researcher Professor Jetson Luis-Leder to examine the systemic issues underlying government program fraud. Jetson and Patrick discuss healthcare fraud cases, including hospice eligibility manipulation and ambulance transport schemes, and other fraud practices against unemployment and the PPP program. The discussion reveals how institutional constraints, technological limitations, and policy design choices create opportunities for both beneficial and harmful rule violations. They also analyze the ROI of fraud prevention measures, the effectiveness of whistleblower incentives, and how bureaucratic systems can be redesigned to prevent abuse.–Fu...
2024-10-241h 18
Fraud in AmericaLet's Discuss Fraud With an ExpertYou can learn more about Jetson Leder-Luis here, and Jetson’s article in “The Conversation.”Click here to read our Fraud By The Numbers series.------------------Fraud in America Social Links🌐 Website🐦 Twitter🎥 YouTube👔 LinkedIn------------------To learn more about Fraud in America, visit fraudinamerica.com.Thoughts? Guest suggestions? Email us at info@fraudinamerica.com."Fraud in America" is produced by Jeb White, James King, Emma Bass, and Jacklyn DeMar; research by Kathleen Scanlan, Brian Markovitz, and Max Voldman; edited by Rachel Brooks; original music by Connor Kao...
2021-10-2729 min