Skin in the Game: Hidden Asymmetries in Daily Life
Bureaucracy is a construction by which a person is conveniently separated from the consequences of his or her actions.
Nassim Nicholas Taleb • Skin in the Game: Hidden Asymmetries in Daily Life
If your private life conflicts with your intellectual opinion, it cancels your intellectual ideas, not your private life.
Nassim Nicholas Taleb • Skin in the Game: Hidden Asymmetries in Daily Life
If your private actions do not generalize, then you cannot have general ideas.
Nassim Nicholas Taleb • Skin in the Game: Hidden Asymmetries in Daily Life
People can detect the difference between front- and back-office operators.
Nassim Nicholas Taleb • Skin in the Game: Hidden Asymmetries in Daily Life
Scars signal skin in the game.
Nassim Nicholas Taleb • Skin in the Game: Hidden Asymmetries in Daily Life
I can exercise courage to save a collection of kids from drowning, at the risk of my own life, and it would also correspond to a form of prudence. Were I to die, I would be sacrificing a lower layer in Figure 6 for the sake of a higher one.
Nassim Nicholas Taleb • Skin in the Game: Hidden Asymmetries in Daily Life
The main idea behind complex systems is that the ensemble behaves in ways not predicted by its components. The interactions matter more than the nature of the units. Studying individual ants will almost never give us a clear indication of how the ant colony operates. For that, one needs to understand an ant colony as an ant colony, no less, no more
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Groups behave differently at a different scale. This explains why the municipal is different from the national. It also explains how tribes operate: you are part of a specific group that is larger than the narrow you, but narrower than humanity in general. Critically, people share some things but not others within a specified group. And there is a
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A saying by the brothers Geoff and Vince Graham summarizes the ludicrousness of scale-free political universalism. I am, at the Fed level, libertarian; at the state level, Republican; at the local level, Democrat; and at the family and friends level, a socialist.
Nassim Nicholas Taleb • Skin in the Game: Hidden Asymmetries in Daily Life
Things don’t “scale” and generalize, which is why I have trouble with intellectuals talking about abstract notions. A country is not a large city, a city is not a large family, and, sorry, the world is not a large village.