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
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
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 has lost it. Regrettably. This book is a good example of someone doing a "Lord Kelvin", that is, making strong claims about things that are not within your field of expertise. Taleb is a statistician, but of course that doesn't hinder him from having very strong opinions on other matters such as other researchers' fields, politics, banking, journalism, to mention just a few.
That's a shame because I loved his first two books. However since Antifragility, quality has been on a downward slop ...more
More wisdom from Taleb. Since this was a Taleb book, I was ready to give it a five star rating without even reading it. Well, I did finish it. And it's not as long or as densely packed as his other books, it's more like a long summary of ideas with some ideas explained in more detail. As with all Taleb books, this one's pretty entertaining too.
If you haven't ready any Taleb books before, this is probably not the place to start. It's rather succient, and builds on the ideas already exposed in oth ...more
Taleb’s ‘Skin in the Game’ has been put together in a somewhat disorderly way, but the reasoning goes as follows:
1. The world in which we live is complex and eludes our sense-making faculties.
2. Our society has cultivated a privileged class of Intellectuals Yet Idiots (IYIs). These people monopolize positions of authority and routinely take decisions to intervene in that complex world, without however doing the effort to think through the cascading impacts of these decisions and being convenient ...more
SITG is an angry rant. It lacks structure. The core message - mainly because of the author’s often misplaced and wrong arguments against his self-created adversaries - is never examined beyond the title’s most known or intuitive conventional meaning. The basic concept is at least as old as the adage itself. The author does little to bolster the claim while spending all efforts on slamming real or imagined opponents. The book’s frequent diversions along with internal contradictions amid a rather ...more
The one non-fiction book everyone should take a look at as it puts in (very skilled) words what most people feel - today the smooth talkers have power without risk (unless they are caught at the outrage du jour) and they use it to enrich themselves with an "after us the deluge" motto; the "talk is cheap" cliche has never been exposed better than in this book and reading it, one may get angry or exhilarated (or both and more) but one will learn a lot from it
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