
Skin in the Game: Hidden Asymmetries in Daily Life

To use the ergodic framework: my death at Russian roulette is not ergodic for me but it is ergodic for the system.
Nassim Nicholas Taleb • Skin in the Game: Hidden Asymmetries in Daily Life
I am never bothered by normal people; it is the bull***tter in the “intellectual” profession who bothers me. Seeing the psychologist Steven Pinker making pronouncements about things intellectual has a similar effect to encountering a drive-in Burger King while hiking in the middle of a national park.
Nassim Nicholas Taleb • Skin in the Game: Hidden Asymmetries in Daily Life
Many kids would learn to love mathematics if they had some investment in it, and, more crucially, they would build an instinct to spot its misapplications.
Nassim Nicholas Taleb • Skin in the Game: Hidden Asymmetries in Daily Life
Replacing the “natural,” that is age-old, processes that have survived trillions of high-dimensional stressors with something in a “peer-reviewed” journal that may not survive replication or statistical scrutiny is neither science nor good practice.
Nassim Nicholas Taleb • Skin in the Game: Hidden Asymmetries in Daily Life
semiabstract buzzword-laden discourse.
Nassim Nicholas Taleb • Skin in the Game: Hidden Asymmetries in Daily Life
all warlords and warmongers were warriors themselves, and, with a few curious exceptions, societies were run by risk takers, not risk transferors. Prominent
Nassim Nicholas Taleb • Skin in the Game: Hidden Asymmetries in Daily Life
If one claimed that there is “statistical evidence that a plane is safe,” with a 98 percent confidence level (statistics are meaningless without such confidence bands),
Nassim Nicholas Taleb • Skin in the Game: Hidden Asymmetries in Daily Life
If you have the rewards, you must also get some of the risks, not let others pay the price of your mistakes. If you inflict risk on others, and they are harmed, you need to pay some price for it.
Nassim Nicholas Taleb • Skin in the Game: Hidden Asymmetries in Daily Life
Things designed by people without skin in the game tend to grow in complication (before their final collapse).