updated 2h ago
Skin in the Game: Hidden Asymmetries in Daily Life (Incerto)
Things designed by people without skin in the game tend to grow in complication (before their final collapse).
from Skin in the Game: Hidden Asymmetries in Daily Life by Nassim Nicholas Taleb
Siméon added 1mo ago
To figure out why ethics, moral obligations, and skills cannot be easily separable in real life, consider the following. When you tell someone in a position of responsibility, say your bookkeeper, “I trust you,” do you mean that 1) you trust his ethics (he will not divert money to Panama), 2) you trust his accounting precision, or 3) both? The enti
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Salman Ansari added 2mo ago
The knowledge we get by tinkering, via trial and error, experience, and the workings of time, in other words, contact with the earth, is vastly superior to that obtained through reasoning, something self-serving institutions have been very busy hiding from us.
from Skin in the Game: Hidden Asymmetries in Daily Life by Nassim Nicholas Taleb
Salman Ansari added 2mo ago
The same mechanism of transferring risk also impedes learning. More practically, You will never fully convince someone that he is wrong; only reality can. Actually, to be precise, reality doesn’t care about winning arguments: survival is what matters. For The curse of modernity is that we are increasingly populated by a class of people who are bett
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Salman Ansari added 2mo ago
What is crucial here is that the downside doesn’t affect the interventionist. He continues his practice from the comfort of his thermally regulated suburban house with a two-car garage, a dog, and a small play area with pesticide-free grass for his overprotected 2.2 children.
from Skin in the Game: Hidden Asymmetries in Daily Life by Nassim Nicholas Taleb
Salman Ansari added 2mo ago
The principle of intervention, like that of healers, is first do no harm (primum non nocere); even more, we will argue, those who don’t take risks should never be involved in making decisions.
from Skin in the Game: Hidden Asymmetries in Daily Life by Nassim Nicholas Taleb
Salman Ansari added 2mo ago
What they do, on the other hand, is tangible and measurable and that’s what we should focus on.
from Skin in the Game: Hidden Asymmetries in Daily Life by Nassim Nicholas Taleb
Rodrigo Portaro added 9mo ago
The skills at making things diverge from those at selling things.
from Skin in the Game: Hidden Asymmetries in Daily Life by Nassim Nicholas Taleb
Rodrigo Portaro added 9mo ago
Artisans have their soul in the game.
from Skin in the Game: Hidden Asymmetries in Daily Life by Nassim Nicholas Taleb
Rodrigo Portaro added 9mo ago