Skin in the Game: The Hidden Asymmetries in Daily Life

Avoid taking advice from someone who gives advice for a living, unless there is a penalty for their advice.

Let us return to pathemata mathemata (learning through pain) and consider its reverse: learning through thrills and pleasure. People have two brains, one when there is skin in the game, one when there is none. Skin in the game can make boring things less boring. When you have skin in the game, dull things like checking the safety of the aircraft be... See more

Finally, when young people who “want to help mankind” come to me asking, “What should I do? I want to reduce poverty, save the world,” and similar noble aspirations at the macro-level, my suggestion is: 1) Never engage in virtue signaling; 2) Never engage in rent-seeking; 3) You must start a business. Put yourself on the line, start a business.

Don’t tell me what you think, tell me what you have in your portfolio.

Those who talk should do and only those who do should talk.

The curse of modernity is that we are increasingly populated by a class of people who are better at explaining than understanding, or better at explaining than doing.