Complex Systems with Patrick McKenzie (patio11)20 Feb 2025

You can’t retract the facts

In this episode, Patrick McKenzie (@patio11) responds to a recent request by a crypto unicorn founder / bank CEO to retract his essay Debanking (and debunking?). Come for the note about editorial standards and independence, stay for the diss track.
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Full transcript available here: https://www.complexsystemspodcast.com/editorial-standards-and-independence/

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Sponsors: Safebase | Check

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Recommended in this episode:

Debanking (and debunking?): https://www.bitsaboutmoney.com/archive/debanking-and-debunking/
CEO: Retract your debanking article? Me: No. https://www.kalzumeus.com/2025/02/10/retraction-request-denied/
Geekiest rap single in history https://suno.com/song/c5ac7441-4a0b-4e5e-9c85-480e3ba63fc1

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Twitter:

@patio11

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Timestamps:

(00:00) Intro

(03:04) Musical interlude

(04:56) Return to commentary

(06:35) You can’t please everyone

(08:06) The bar for retraction is high

(10:07) Our review of the retraction request

(10:37) “A few areas were incorrect or misleading”

(16:12) “Lots of omission of key facts”

(18:57) “Missing the point about what we mean by debunking”

(20:40) Sponsors: Safebase | Check

(25:00) Our response to McCauley’s testimony
(28:24) McCauley’s concluding remarks and our response
(30:21) Bank CEOs do not often ask writers for retractions

(34:20) Some context regarding custodial banks

(40:50) Returning to our regularly scheduled programming

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