From the New York Times bestselling author of The Black Swan, a bold new work that challenges many of our long-held beliefs about risk and reward, politics and religion, finance and personal responsibility In his most provocative and practical book yet, one of the foremost thinkers of our time redefines what it means to understand the world, succeed in a profession, contribute to a fair and just society, detect nonsense, and influence others. Citing examples ranging from Hammurabi to Seneca, Antaeus the Giant to Donald Trump, Nassim Nicholas Taleb shows how the willingness to accept ones own risks is an essential attribute of heroes, saints, and flourishing people in all walks of life. As always both accessible and iconoclastic, Taleb challenges long-held beliefs about the values of those who spearhead military interventions, make financial investments, and propagate religious faiths. Among his insights: For social justice,focus on symmetry and risk sharing. You cannot make profits and transfer the risks to others, as bankers and large corporations do. You cannot get rich without owning your own risk and paying for your own losses. Forcing skin in the game corrects this asymmetry better than thousands of laws and regulations. Ethical rules arent universal. Youre part of a group larger than you, but its still smaller than humanity in general. Minorities, not majorities, run the world. The world is not run by consensus but by stubborn minorities imposing their tastes and ethics on others. You can be an intellectual yet still be an idiot. Educated philistines have been wrong on everything from Stalinism to Iraq to low-carb diets. Beware of complicated solutions (that someone was paid to find). A simple barbell can build muscle better than expensive new machines. True religion is commitment, not just faith. How much you believe in something is manifested only by what youre willing to risk for it.The phrase skin in the game is one we have often heard but rarely stopped to truly dissect. It is the backbone of risk management, but its also an astonishingly rich worldview that, as Taleb shows in this book, applies to all aspects of our lives. As Taleb says, The symmetry of skin in the game is a simple rule thats necessary for fairness and justice, and the ultimate BS-buster, and Never trust anyone who doesnt have skin in the game. Without it, fools and crooks will benefit, and their mistakes will never come back to haunt them....
|Title||:||Skin in the Game: The Hidden Asymmetries in Daily Life (Incerto #5)|
|Number of Pages||:||272 pages|
|Url Type||:||Home » Skin » Skin in the Game: The Hidden Asymmetries in Daily Life (Incerto #5)|
Skin in the Game: The Hidden Asymmetries in Daily Life (Incerto #5) Reviews
Aah, Taleb. I have read all his non-technical books at least twice, so of course it was with great enthusiasm that I bought this... SITG.
Bit of a bummer.
SITG has some great insights, but most of them were shared on his Twitter account, and his posts on Medium. That is:
(SITG book - Previous works - Medium posts = few new insights)
Also, a bit of complaining about how his ideas were not listened to.
But of course applaud the man for pursuing his ideas for more than 2 decades. Have learned quite a lo ...more
In this book #4, Taleb is more arrogant and pretentious than ever. You can never let go of the feeling that this book is about him, rather than any other topic. He's become profoundly obnoxious and negative. Despite some good points in the book, reading it feels like carrying a burden.
In this new book Taleb goes to extra lengths to attack David Runciman, head of the politics department at Cambridge, and a Guardian book reviewer who had torn apart his previous "Antifragile" book. Runciman's crit ...more
Taleb should know by now that, according to Lindy effect, he should respect the canonical writing style and analysis schemes he tries to avoid.
Less new ideas and more off-topic resentful digression. His message keeps being interesting. However, Jordan B. Peterson has been able to distil it in a more productive way for humanity (and not only for contrarian elitists).
I wanted to like this and I certainly did at the beginning. All of his insults are complex, original and amusing but he insults so many people so frequently that the process itself becomes tedious. I do enjoy his historical anecdotes, but again there are a large volume of them, and not always obviously with a point, other than a demonstration of his research or recall abilities. It is the fact that he criticises many individuals in passing with a specific but cryptic reference to something they ...more
I like Taleb's books while hating his politics. I like that he says what he thinks is true and doesn't care who he pisses off. He is also right about a lot of things. He is on target with his jibes at chattering classes who no skin in the game and blythly go on about issues that they will lose nothing on if they are wrong. no accountability. when he goes off on politics defending Trump he goes off rails. Just because his enemies who he calls intellectual yet idiots despise Trump it doesn't besto ...more
I waded into this book warily. NN Taleb was a personal favourite due to his ability to stand up to a large section of the establishment which does not practice what it preaches. Yet over the years his diatribes and jeers towards anyone who doesn’t agree with his world view was a bit jarring. Taleb is hailed by Manu Joseph ( Columnist at The Mint who wrote the amazing “Illicit happiness of other people”) among others.
This book did not disappoint in terms of either, his acute insight or his acerbi ...more
Some really good insights in a very small book -
1. "When it comes to the country, I'm a libertarian, when it comes to the state, I'm a republican, when it comes to my city, I'm a Democrat, when it comes to my family, I'm a Socialist".
2. Cost benefit analysis is not possible when there is a probability of Ruin.
3. The west is in the process of committing ideological suicide (on minority rule).
4. Its easier to Macrobullshit than it is to Microbullshit.
5. What matters is not what a person has, but w ...more
Skin in the Game is at the same time thought-provoking and original but also contradictory and sometimes absurd.
Let’s start with the cons:
1. I certainly won’t be the first to notice that Taleb can be mean-spirited. But why does he insist on presenting his views in this way? The communication of his ideas, often profound, does not require a mean-spirited or condescending tone. For however brilliant Taleb thinks he is, his skills in persuasion are severely lacking; he’s alienating a significant r ...more