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
Iconoclasm Sells Books: The Writings of N. N. Taleb
The story goes that Socrates was the wisest man in Athens, because only he admitted he knew nothing. Taleb is the Socratic inverse, because he believes that only he knows everything.
I have a lot of feelings about Nassim Taleb, most of them not charitable. He’s got me blocked on social media for reasons unknown to me. He brags about liking to win, but that’s not a win.
I actually dislike him so much that whatever value his ideas have are lost in t ...more
Taleb does it again--
CHOCKFULL of insights, surprising, counterintuitive insights. But not only that, he basically snubs the whole discipline of psychology (possibly even Daniel Kahneman's prospect theory) when it comes to rationality and risk-taking. Now, as a long-term believer in psychology as a scientific endeavor, I was in for quite a bit of shock and fascination. Recently I've had doubts about the results of learning science (a branch of psychology), which simplifies things a little too mu ...more
Pop-science in it's lowest form. Book reads like a poorly researched, hastily written college essay. Strings together a few nuggets of common sense wisdom with sizeable amounts of unreferenced BS. Taleb is a shark, living off a reputation and using his own fanbase like an ATM.
Love this book. Much smaller in number of words than his others, but equally dense if not more so with ideas. It’s a great compliment to the rest of his books and ties his ideas together well.
I’ve heard a lot of otherwise smart people criticize Taleb as trying to sound smart without saying anything new or special, but I can’t disagree more.
If I had to distill everything Taleb into one idea, I would focus on the last few sentences of this latest book, which I will summarize in my own memory of ...more
Hey, another one who doesn't give a fuck.
NNT is a bit of a diva, and it is obvious that he has some beef with a lot of people. He certainly sounds right. But is he? I don't know.
The book revolves around the notion that people not having skin in the game will fuck us up, somehow. Turns out that the idea of skin in the game can be applied to a wide variety of fields and professions. Especially the ones Taleb doesn't like, like academics, policy makers, journalists. Oh, and rationality as you kno ...more
It is certainly provocative and has a powerful core message - one the makes a lot of sense. Liked it a lot!
Sometimes, the structure confused me a bit. Felt more like a collection of essays on related subjects than a progression of thought. In a certain way, it is like Incerto (the collection of Taleb's books related to uncertainty), but in a smaller scale (a collection of essays related to asymmetry, but not necessarily presented in a sequential way).
“The mark of a charlatan is to defend his position or attack a critic by focusing on some specific statement (“ look at what he said”) rather than blasting his exact position (“ look at what he means” or, more broadly, “look at what he stands for”)— for the latter requires an extensive grasp of the proposed idea.”
This quote from Mr. Taleb perfectly summarizes my problems with his book.
The general theme of the book is that one should be wary of those making decisions who lack consequences of thos ...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