Skin in the Game: Hidden Asymmetries in Daily Life
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- Create Date：2021-06-28 06:54:19
- Update Date：2025-09-06
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- Author：Nassim Nicholas Taleb
- ISBN：0425284646
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Summary
#1 NEW YORK TIMES BESTSELLER - A bold work from the author of The Black Swan 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 one's 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 aren't universal。 You're part of a group larger than you， but it's 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 you're 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 it's 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 that's necessary for fairness and justice， and the ultimate BS-buster，" and "Never trust anyone who doesn't have skin in the game。 Without it， fools and crooks will benefit， and their mistakes will never come back to haunt them。"
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 one's 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 aren't universal。 You're part of a group larger than you， but it's 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 you're 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 it's 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 that's necessary for fairness and justice， and the ultimate BS-buster，" and "Never trust anyone who doesn't have skin in the game。 Without it， fools and crooks will benefit， and their mistakes will never come back to haunt them。"
Reviews
Alvin
，
Maybe I like inflammatory writing。 The one thing I'm sure of about this book is that it wasn't boring。 This book tries to cover a lot， and Taleb questions much of what we take for granted， gives thought-provoking examples， and really annoys you to no end。One part that I think Taleb addresses that is very important is thinking about social mobility in terms of ergodicity。 Taleb says that there is no upwards social mobility without downwards social mobility; when thinking about the Markov chain th Maybe I like inflammatory writing。 The one thing I'm sure of about this book is that it wasn't boring。 This book tries to cover a lot， and Taleb questions much of what we take for granted， gives thought-provoking examples， and really annoys you to no end。One part that I think Taleb addresses that is very important is thinking about social mobility in terms of ergodicity。 Taleb says that there is no upwards social mobility without downwards social mobility; when thinking about the Markov chain that represents social classes， without changing the system， there is no way for both people in power to retain all of their power and people without as much to be able to gain。 And so it's so easy for those at the top to advocate for ways to help out the poor， whilst still holding on to their own status as tightly as possible， and this isn't possible to coexist。 I'm reminded of John Green's example in the Anthropocene reviewed—it's like if you're playing Mario Kart and the guy in first place starts giving away mushrooms to the people in last as "charity" or something， while he still gets all of the bullet bills and lightning to himself， so what good do the mushrooms really do you， he's going to lap you anyway and laugh as you fall off the map。 And so even though he can talk about how he's doing so much to help， the inequality just gets more and more stretched， and the Markov chain becomes even more rigid。 Perhaps thinking of this all as a mario kart race isn't the most accurate， but Taleb's point of having skin in this game certainly applies。I still feel hypocrisy from Taleb's end when it comes to inequality。 I'm very skeptical of his claiming that "doing business will always help;" it feels like if he decides to analyze the current state of entrepreneurism， there are just as many issues as there are in these other industries he tries to roast。 And many here don't have as much skin in the game as Taleb makes it seem; the more fortunate jump from one company to the other， just selling and repeating。 It honestly doesn't sound like Taleb is very convinced on this point himself。The religion section was a little lacking。 Taleb could go a lot deeper with this， and I don't think he really makes all too much of a point at all。 There are some really nice connections to this science thing he talks about， and pragmatism。 How in some sense， science and a lot of secularism is just a different religion， and just involves a different type of skin in the game。Taleb's writing is infuriating at times; he's soo self-interested and really likes humble bragging。 He also has a really weird thing with masculinity; he calls people who want to help in the State department "low-testosterone，" and I think he wants it to be a savage insult or something。 He tries to be self aware but he's really just not， he draws some really outlandish overgeneralizations， and some parts sound like they're literally written to help satiate his own ego。 Sure， it's entertaining （the guy does not hold back on Steven Pinker）， makes more perhaps a more interesting read， but it's also a little sad。In the end， this still one of the most interesing books I've read in terms of structure， writing style， and most of all ideas—I do admire flair， clarity， and fearlessness。 I find the aphorisms refreshing and he is generally logical （about most things other than himself）， and I love the mathematical flavor。 3。5 stars for the book and half a star for mentioning algebraic geometry。 。。。more
Pavan Palety
，
The book， while educational in parts， is largely a tirade on people Taleb hates and vice Versa。 I found it surprising that someone as smart as Taleb cannot see the hypocrisy of what he says。 On one hand he claims that he doesn’t care what others say or think about him and yet on the other hand he starts almost every chapter with an anecdote describing a slight， real or perceived， he suffered at the hands of other “intellectuals” （hates the word even）。 I found the core message/learning from the b The book， while educational in parts， is largely a tirade on people Taleb hates and vice Versa。 I found it surprising that someone as smart as Taleb cannot see the hypocrisy of what he says。 On one hand he claims that he doesn’t care what others say or think about him and yet on the other hand he starts almost every chapter with an anecdote describing a slight， real or perceived， he suffered at the hands of other “intellectuals” （hates the word even）。 I found the core message/learning from the book lost and buried deep in these personal skirmishes， justifications and so on。 Having said that， I do support some， actually many of his skirmishes like ones against merchandising of virtue， salafism， macroeconomics or macrocharity or abstract universal aims etc etc。 This is my first Taleb and someone might advise me post facto that I shouldn’t have started with the 4th book in his Incerto series and should have eased into his work。 They would probably be right。 Other than these very evident faults， the book does cover some very interesting concepts around risk taking with good background stories and provides advice/mental models on identifying and dealing with risk in general。 Some mental models I liked are the via negativa， tail risk analysis， ruin v risk etc。 They all need a deeper reflection on my part to really understand them。 I intend to read his books in the right order and get back to this one again。 。。。more
Rolandas
，
This book is not strong as black swan。 I don’t like how author is offending other ideas as he declared himself that only time is the judge which decides what idea is write and what is wrong。 Overall you can get something interesting for expanding your view。
Steve
，
Taleb graciously explains how decentralization and accountability counter monopoly:https://www。buildlargemansions。com/His gift is seeing clearly。 If you care about the ecosystem or survival of humanity you'll want to read this book。 He doesn't mince words。 You may be offended as indicated by the review snippets on the back cover。 Just keep on reading and don't take anything personally。 That is if you want to learn how to acheive world peace and financial independence。 If there's more you want to Taleb graciously explains how decentralization and accountability counter monopoly:https://www。buildlargemansions。com/His gift is seeing clearly。 If you care about the ecosystem or survival of humanity you'll want to read this book。 He doesn't mince words。 You may be offended as indicated by the review snippets on the back cover。 Just keep on reading and don't take anything personally。 That is if you want to learn how to acheive world peace and financial independence。 If there's more you want to know along those lines that's not covered here he may have already addressed it in one of his earlier books。Decentralization， of course， has already been harnessed by the tech world。 And not just for peer-to-peer， blockchains or scalability。 It's a means to eliminate glaring vulnerabilities in system architecture。 I'm still waiting for Sounil Yu to release his book on Distributed Immutable Ephemeral paradigms for the next era of security。 So it's not too suprising that a mathematical genius entrepreneur like Taleb would figure out how to reapply decentralization effectively in the real world。 Although if he hadn't already imparted so much wisdom in The Black Swan， etc。 it might be surprising he's willing to share this valuable knowledge with the world。 Of course he spelled out he wants humanity to survive in the last chapter。 Oops， spoiler alert。（view spoiler）[Taleb points out how freedom of the press no longer works because journalism requires a modicum of trust but current purveyors of news aren't trustworthy。 He identifies how the acceptance of minority intolerance in the United States is suicide。 This is because the U。S。 Constitution is based on Christianity。 As the foundation of Christianity is removed our federation becomes illogical （without a modicum of trust） and can not function。 This outcome was also forseen by Alexis de Tocqueville （Democracy in America）。 Apparently law throughout the ages is based on practical knowledge like the golden rule。 If the golden rule can't be followed Nassim offers the silver rule as the minimum alternative。 To paraphrase his words: We need to be more than intolerant with intolerant minorities that violate the Silver Rule to survive。 （hide spoiler）] 。。。more
Marcelo
，
Interesting book， that gives different perspectives about certain things on lifes。 It' really needed attention reading this book，some "terms" are advanced。 Interesting book， that gives different perspectives about certain things on lifes。 It' really needed attention reading this book，some "terms" are advanced。 。。。more
Fabio Ismerim
，
Não é a melhor obra dele， mas ainda assim é Taleb。Não recomendo como porta de entrada， pois muitos dos conceitos abordados aqui são explicados com detalhes nos livros anteriores do INCERTO。Skin in the game é um lifestyle， algo que muitos profissionais deveriam ter como princpio， para reduzir os danos que causam aos outros （políticos por exemplo）。Também pude perceber que muitos que utilizam esse lema no mercado financeiro， não entenderam a síntese do skin in the game， já que tiram seu sustento re Não é a melhor obra dele， mas ainda assim é Taleb。Não recomendo como porta de entrada， pois muitos dos conceitos abordados aqui são explicados com detalhes nos livros anteriores do INCERTO。Skin in the game é um lifestyle， algo que muitos profissionais deveriam ter como princpio， para reduzir os danos que causam aos outros （políticos por exemplo）。Também pude perceber que muitos que utilizam esse lema no mercado financeiro， não entenderam a síntese do skin in the game， já que tiram seu sustento recomendando investimentos。 。。。more
Evan Akers
，
Initially I was pretty upset with the time I spent on this book， but after looking back at what I highlighted， there are definitely some gems。 Still probably wasn't worth the effort， which is quite upsetting since I was really excited to check out Taleb's work for the first time。 Main takeaways include:It's interesting how many past leaders were risk takers who died in war， not in bedDoing > understandingWhen there’s risk on the line， our brain can perform immensely better If you can't put your Initially I was pretty upset with the time I spent on this book， but after looking back at what I highlighted， there are definitely some gems。 Still probably wasn't worth the effort， which is quite upsetting since I was really excited to check out Taleb's work for the first time。 Main takeaways include:It's interesting how many past leaders were risk takers who died in war， not in bedDoing > understandingWhen there’s risk on the line， our brain can perform immensely better If you can't put your soul into it， give it up and let someone else do itAn honest and fulfilling life is all about sacrifice and risk takingOld people are wisePeople who don't look the part， yet are successful， have skin in the gameWe are happier in barrio-style neighborhoods （"Tribe"）Main quotes include:"What matters in life isn’t how frequently one is “right” about outcomes， but how much one makes when they’re right""If something “stupid” works and makes money， it can’t be “stupid”""There are some risks we can’t afford to take and others we can’t afford to NOT take""What you learn from the intensity and focus you had when under the influence of risk stays with you。 You may lose the sharpness， but nobody can take away what you’ve learned""When young people who “want to help mankind” come to me asking “What should I do？”， my suggestion is you must start a business。 Put yourself on the line， start a business。 Take risk， and if you get rich （which is optional）， spend your money generously on others""In order to succeed， you must first survive""In a strategy that entails ruin， benefits never offset risks of ruin"To summarize， I'm disappointed it wasn't better， but I still learned a lot。 I need to find something I can fully lean into （like I used to with running） that I can also turn into a career。 I must be willing to sacrifice as much as possible to succeed in it and take immense risks。 Once I discover this， just focus on surviving at first， not making a ton of money。 In the future， the day will come when I can make out like a bandit （slowly， then suddenly i。e。 Portnoy）。 No matter how stupid this idea may seem， as long as it makes money， it isn't stupid （dog waste removal， OSU football ticket flipping， ACT tutoring， etc。）TL;DR: Lean into it。 Slowly， then suddenly。 Take risks and make immense sacrifices。 If it makes you money， it isn't stupid。 Focus on surviving。 。。。more
Carolyn Stoebe
，
Interesting in parts， very long and not all the theories are as solid as the author thinks， who comes across as quite arrogant。
Harry Hodder
，
I really enjoyed Taleb's work- it is interesting， thought provoking and it is one of the few books I believe made me smarter。 The central thesis of the book is that you must have some sort of 'Skin in the Game' or something to lose in order to make good decisions and to be credible and successful。 Throughout the book， Taleb uses examples from a wide variety of fields including religion， philosophy， business， ethics， decision theory and probability to support the main sections of the book。 Taleb I really enjoyed Taleb's work- it is interesting， thought provoking and it is one of the few books I believe made me smarter。 The central thesis of the book is that you must have some sort of 'Skin in the Game' or something to lose in order to make good decisions and to be credible and successful。 Throughout the book， Taleb uses examples from a wide variety of fields including religion， philosophy， business， ethics， decision theory and probability to support the main sections of the book。 Taleb has a clear， bold and sometimes arrogant style of writing which is mostly used effectively to communicate his ideas and opinions- one of my favourite features was the 'general rules' written in italics after key paragraphs， which made it really clear to see what the author was arguing。 Sometimes Taleb goes on rants about various 'academics' or people without SITG that he disagrees with: I mostly found these unnecessary or annoying as these digressions veered from the main arguments of the book and did not seem to add much in terms of value。 Overall though， I really enjoyed the book and found a lot of the analysis and arguments Taleb put forward thought-provoking and compelling。 There is a lot of good stuff in this book and it is well presented on the whole， so I would highly recommend。 4* 。。。more
Atharva
，
3。5/5This book contains all the unique characteristics of a Taleb book-numerous references to his Levant origins and its way of life， loads of potshots at other academics， mentions of scores of obscure French books，and tons of quotes in various languages。That said，there's quite some wisdom in this book。The Lindy principle，the intolerant minority，how modern employees are like slaves。Taleb， in a departure from his previous books， opines heavily on religious and political matters。He touches several 3。5/5This book contains all the unique characteristics of a Taleb book-numerous references to his Levant origins and its way of life， loads of potshots at other academics， mentions of scores of obscure French books，and tons of quotes in various languages。That said，there's quite some wisdom in this book。The Lindy principle，the intolerant minority，how modern employees are like slaves。Taleb， in a departure from his previous books， opines heavily on religious and political matters。He touches several times on the principle "Look at people's actions，rather than their words" While he still writes intelligently，I felt that he lets his opinions influence this book too much，compared to his previous works。This book also felt more performative to me than the ones before。Loads of references to religions and religious practices，quotes in various languages。These dont add much to the book beside impressing his fans。The central idea is skin in the game-that those who have an upside in things must also share the downside if things go south。Taleb demonstrates how bankers who caused the 2008 crisis were bailed out by the govt，how CEO's are incentivised to think short term rather than tackle systemic issues that may cause ruin。I do have to applaud Taleb's foresight here，because he calls out scientism and performative virtue signalling in the book-problems which have only grown since the book was published。I also liked Taleb's take on income inequality-the statistic he presented was wholly new to me。I cannot comment on the other political opinions expressed in the book-nevertheless，I find them worth reading。I do feel this book is a marked step down from his previous works，but I will still come back to it in the future。 。。。more
Luis Cardeal
，
Um livro muito provocador e confrontacional， escrito sem pudores， para mostrar a grande diferença entre se ter ou não ter "skin in the game" nas coisas que fazemos， comentamos e falamos。Tive dúvidas na pontuação do livro pois ainda não tenho certezas se é escrito por um génio （o que mudaria para um 5 estrelas） ou apenas um ressabiado que usa o livro para tecer ataques pessoais a algumas pessoas de quem não gosta （o que mudaria para uma estrela） Um livro muito provocador e confrontacional， escrito sem pudores， para mostrar a grande diferença entre se ter ou não ter "skin in the game" nas coisas que fazemos， comentamos e falamos。Tive dúvidas na pontuação do livro pois ainda não tenho certezas se é escrito por um génio （o que mudaria para um 5 estrelas） ou apenas um ressabiado que usa o livro para tecer ataques pessoais a algumas pessoas de quem não gosta （o que mudaria para uma estrela） 。。。more
Jgreen
，
Taleb is brilliant， defensive， insightful， stubborn… all in equal measure。 This book is full of his gems and at its best when not trying to settle old scores or take a victory lap。
Ionut Ciuta
，
This is my first Taleb book。 I did known about the existence of the Incerto series， but I kept hearing about Antifragile and Skin in the Game in various podcasts。 So， one day I just randomly picked this one up from a bookstore。It was a great decision and I'm glad I didn't bother to read any reviews beforehand。 Many of the reviews for this book constantly point out that: this book repeats a lot of what the previous instalments of the series had to say and that Mr。 Taleb can sometimes be quite a b This is my first Taleb book。 I did known about the existence of the Incerto series， but I kept hearing about Antifragile and Skin in the Game in various podcasts。 So， one day I just randomly picked this one up from a bookstore。It was a great decision and I'm glad I didn't bother to read any reviews beforehand。 Many of the reviews for this book constantly point out that: this book repeats a lot of what the previous instalments of the series had to say and that Mr。 Taleb can sometimes be quite a bully。 I can't speak for the repetition part， but yes - based on the tone of some parts of the book - I probably couldn't be friends with the author and that's great。 You know why？ Because some things just need to be said as they are。I'm sure many people would be offended by parts of this book。 I， personally， found myself agreeing with Mr。 Taleb for the most part。 Most of his opinions are， let's say， not too popular in the current ideological context。 And that's why we probably need more of this kind of no-nonsense harsh writing。There are many ideas which I'm glad were discussed in this book。 Let's see:- most academics have no actual hard experience in their respective fields， especially in the social sciences。 They churn out papers and endlessly cross-reference and cite their articles。 As the author says， they have no skin in the game。- politics， media and even our social （media） circles are filled with IYI （intelectual yet idiots） that treat morals， virtue and shallow knowledge as merchandise- the same IYI that live their comfortable lives drinking non-dairy based beverages create laws and systems for the less-wealthy people they can no longer relate to。 The masses become just a construct they manipulate into voting changes that are rather detrimental to a normal person。 E。g。 corporate taxes， taxing the wealthy etc。- science is not consensus based。 There are hard facts that cannot be denied。 However， science is non-static and evolves - that means that as we learn things， some become obsolete and that's fine。- professionals are trapped in a continuous pursuit of staying or becoming "highly employable"， most of the time at their own expense。- most people say they are highly religious and act a bit cult-ish， yet when they break a bone， they first go to the hospital， not to the church。 Think about that。- some things are just too big for your heart， no matter how beneficial they might appear on paper。There are many other ideas worth reading and - very important - thinking about。 I highly recommend this book if you're a fan and - hopefully - user of critical thinking。 。。。more
Miha Rekar
，
My review of this will resemble that of Antifragile a lot。 Seems like I have a love/hate reader relation with Taleb。 On some things I absolutely agree， on the others I couldn’t disagree more。 I think it’s a book you should read。 But don’t go about following it to the letter。 Again I found it very funny how he accuses researchers cherry-picking cases to make examples and hand waving things that don’t fit the narrative away when he’s doing the exact same thing。 Everyone he dislikes is an IYI or se My review of this will resemble that of Antifragile a lot。 Seems like I have a love/hate reader relation with Taleb。 On some things I absolutely agree， on the others I couldn’t disagree more。 I think it’s a book you should read。 But don’t go about following it to the letter。 Again I found it very funny how he accuses researchers cherry-picking cases to make examples and hand waving things that don’t fit the narrative away when he’s doing the exact same thing。 Everyone he dislikes is an IYI or semi-intellectual。 There’s no space for gray in his world， only black-and-white。 I simply can’t endorse that kind of viewpoint。 。。。more
Hamide meraj
，
بسیاری از افراد ثروتمندی که برای زندگی در مدت نامعلومی به ایالات متحده می آیند از کسب اقامت شهروندی اجتناب میکنند。 آن ها مجوز اقامت دائم را به صورت یک گزینه رایگان و به عنوان حق انتخاب خودشان در اختیار دارند، اما این یک تعهد اجباری نیست。 زیرا میتوانند با یک رویه ی ساده ان را پس بدهند。 اگر از انها بپرسید که چرا جلوی قاضی سوگند یاد نمیکنند و بعد از آن یک مهمانی در یک کلاب برگزار نمیکنند جوابشان معمولا این است : مالیات。 زمانی که شهروند امریکا هستید باید مالیات بر درامد خود را در سطح جهان بپردازید، بسیاری از افراد ثروتمندی که برای زندگی در مدت نامعلومی به ایالات متحده می آیند از کسب اقامت شهروندی اجتناب میکنند。 آن ها مجوز اقامت دائم را به صورت یک گزینه رایگان و به عنوان حق انتخاب خودشان در اختیار دارند، اما این یک تعهد اجباری نیست。 زیرا میتوانند با یک رویه ی ساده ان را پس بدهند。 اگر از انها بپرسید که چرا جلوی قاضی سوگند یاد نمیکنند و بعد از آن یک مهمانی در یک کلاب برگزار نمیکنند جوابشان معمولا این است : مالیات。 زمانی که شهروند امریکا هستید باید مالیات بر درامد خود را در سطح جهان بپردازید، حتی اگر خارج از کشور زندگی کنید。 این فرایند به سادگی قابل برگشت نیست。 بنابراین گزینه اختیاری بودن ان را از دست می دهید。 اما سایر کشورهای غربی نظیر انگلیس و فرانسه در صورتی که شهروندانشان در منطقه ای معاف از مالیات اقامت داشته باشند ، استثنائات قابل توجهی برای انها قائل می شوند 。 بدین ترتیب گروهی از مردم تریب می شوند که از طریق سرمایه گذاری و حداقل اقامت حق شهروندی را خریداری کنند。 گذرنامه بگیرند و سپس در یک منطقه معاف از مالیات زندگی کنند。 یک کشور نباید با رفقای نیمه راه کنار بیاید。 در این که ملیت خاصی را در اختیار داشته باشید اما برای ان کشور پوست در بازی نداشته باشید و صرفا خواهان بخش های مثبت و مسافرت ها و عبور و مرور از مرز ان کشور باشید و اثرات منفی پاسپورت ان کشور را نپذیرید یک چیز توهین آمیز است。 。。。more
Dennis Leth
，
Well。 The best things come last （at least it is the last of the Incerto collection at the time of the review）。 I've been amazed by the insights， the logic and the thinking of Mr。 Taleb。 On various points we think and reason alike。 I've been studying complexity for a decade。 Originally from the Harward Business Review article by David Snowden on 'a leaders framework for decisions' （Google is your friend） and followed up/added the thinking and research of Ralph Stacey。 Lately I've been looking at Well。 The best things come last （at least it is the last of the Incerto collection at the time of the review）。 I've been amazed by the insights， the logic and the thinking of Mr。 Taleb。 On various points we think and reason alike。 I've been studying complexity for a decade。 Originally from the Harward Business Review article by David Snowden on 'a leaders framework for decisions' （Google is your friend） and followed up/added the thinking and research of Ralph Stacey。 Lately I've been looking at uncertainty through the eyes of economist and social scientist。 The best understanding of uncertainty I have gotten the last decade is through the Incerto Collection （Fooled by Randomness， Black Swan， Anti-Fragile and Bed of Procrustes）。 The understanding of mediocristan and extremistan gives one a framework that's understandable and one you'll be able to navigate within。 Mr。 Taleb is as I a libertarian。 Lack of government and bureaucracy is therefor central for his theories as well as decentralization。 Reading through the entire Incerto Collection it's quit funny that I only have 2 items where I disagree with Mr。 Taleb。 I think he's wrong in his dispute with Sir Richard Dawkins。 I don't think his reasoning and evidence is stronger than Sir Dawkins and I do agree with Sir Dawkins conclusions on the topic of 'The Selfish Gene' （You should absolutely read the book）。 I also think his a bit harsh on Sir Richard Thaler and the points of 'Nudge' （Another great book - again Goodreads or google is your friend）。 I may be biased due to my work with design thinking and entrepreneurship （the latter the only real occupation and value driver in society）。 I've seen nudging used to benefit the whole on the behalf of the individual。 It's not a universal tool。 But quit frankly。 Most tools aren't universal。 You need to know when to use a hammer。 And when to use a screwdriver。 I'm kind of sad that my Incerto journey has come to an end。 But as Mr。 Taleb writes and acknowledges 'a book value is determined by the times you'll read them'。 The Incerto collection will be part of my annual/bi-annual reading from this day on。 。。。more
Zablon
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Main takeaway -"For most Jews today， religion has become ethnocultural， without the law--and for many， a nation。 Same for Armenians， Syriacs， Chaldeans， Copts， and Maronites。 For Orthodox and Catholic Christians， religion is largely aesthetics， pomp， and rituals。 For Protestants， religion is belief without aesthetics， pomp， or law。 Further East， for Buddhists， Shintoists， and Hindus， religion is practical and spiritual philosophy， with a code of ethics （and for some， a cosmogony）。 So when Hindus Main takeaway -"For most Jews today， religion has become ethnocultural， without the law--and for many， a nation。 Same for Armenians， Syriacs， Chaldeans， Copts， and Maronites。 For Orthodox and Catholic Christians， religion is largely aesthetics， pomp， and rituals。 For Protestants， religion is belief without aesthetics， pomp， or law。 Further East， for Buddhists， Shintoists， and Hindus， religion is practical and spiritual philosophy， with a code of ethics （and for some， a cosmogony）。 So when Hindus talk about the Hindu “religion。” it doesn’t mean the same thing to a Pakistani， and would certainly mean something different to a Persian。" 。。。more
Bron Anderson
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I barely got through the beginning sections as I found his tone/communication quite arrogant。 I have no doubt some of his ideas are quite meritable but I have limited time to read as it is so I'm not wasting that time on arrogant writers！ I barely got through the beginning sections as I found his tone/communication quite arrogant。 I have no doubt some of his ideas are quite meritable but I have limited time to read as it is so I'm not wasting that time on arrogant writers！ 。。。more
Teresa
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Interesting concepts。 If you like to study history and religions， you will like it。
José Pereira
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Independentemente do enviesamento óbvio， resultante dos seus preconceitos， declarados， este livro apresenta uma tese bastante forte sobre a importância da motivação sobre as decisões de cada um。Conclui， obviamente que se o decisor tiver “skin in the game”， as decisões serão mais ponderadas， para partir para a conclusão de que um empresário privado， tendo o seu dinheiro em risco， é mais confiável。É aqui que a tese， é questionável， não na comparação com um decisor público， mas porque não é verdade Independentemente do enviesamento óbvio， resultante dos seus preconceitos， declarados， este livro apresenta uma tese bastante forte sobre a importância da motivação sobre as decisões de cada um。Conclui， obviamente que se o decisor tiver “skin in the game”， as decisões serão mais ponderadas， para partir para a conclusão de que um empresário privado， tendo o seu dinheiro em risco， é mais confiável。É aqui que a tese， é questionável， não na comparação com um decisor público， mas porque não é verdade que o privado tenha sempre “skin in the game”。Diria mesmo que， uma das prioridades de um empresário privado é safar a sua pele， fazendo o negócio com o “pêlo do cão”， numa lógica de minimização do risco。Acredito que a tese está correta， mas é preciso cautela com a sua utilização。Verifiquem sempre de quem é a pele， até porque as consequências poderão ser muito diferentes， conforme define no seu último capítulo， sobre o princípio da ergodicidade。Dos livros mais difíceis que já li， mas muito importante。Para terminar， recomendo a leitura prévia do livro “Fooled by randomness”。 。。。more
Pierre Raffoul
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A great book by an exceptional manOne of the most practical books you might ever readAn established successful man makong sense of the world by raising the topic of 'Skin in the Game'。 My favorite part is about IYI （Intellectual Yet Idiot） in which the author highlights the gap that some people might have when they fall solely into theory This ones is a must read A great book by an exceptional manOne of the most practical books you might ever readAn established successful man makong sense of the world by raising the topic of 'Skin in the Game'。 My favorite part is about IYI （Intellectual Yet Idiot） in which the author highlights the gap that some people might have when they fall solely into theory This ones is a must read 。。。more
Yaroslav
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Good book！ Really loved the ending words:"No muscles without strength， friendship without trust， opinion without consequence， change without aesthetics， age without values， life without effort， water without thirst， food without nourishment， love without sacrifice， power without fairness， facts without rigor， statistics without logic， mathematics without proof， teaching without experience， politeness without warmth， values without embodiment， degrees without erudition， militarism without fortitu Good book！ Really loved the ending words:"No muscles without strength， friendship without trust， opinion without consequence， change without aesthetics， age without values， life without effort， water without thirst， food without nourishment， love without sacrifice， power without fairness， facts without rigor， statistics without logic， mathematics without proof， teaching without experience， politeness without warmth， values without embodiment， degrees without erudition， militarism without fortitude， progress without civilization， friendship without investment， virtue without risk， probability without ergodicity， wealth without exposure， complication without depth， fluency without content， decision without asymmetry， science without skepticism， religion without tolerance， and， most of all: nothing without skin in the game。" 。。。more
Scott
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Good。 Not great。 Expected a straightforward analysis of why decisions in business， in politics， in academia， and in other endeavors are poor when the decision maker suffers little to no negative consequences for being wrong。 With real world examples。 Instead book was too cerebral， too convoluted。
Cameron
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I found Skin in the Game an excellent read， at its core the book strikes quite true。 The primary thesis being:If there is any risk of ruin， given enough time and enough run-throughs the ruin will eventually occur， that time is its own filter for what is lasting and true。 The idea that pain through contact is how we learn not through theorising。It's focused on the lindy effect - the longer it's lasted the longer it'll last。 The way it's written is somewhat jarring and Taleb is suddenly a provocat I found Skin in the Game an excellent read， at its core the book strikes quite true。 The primary thesis being:If there is any risk of ruin， given enough time and enough run-throughs the ruin will eventually occur， that time is its own filter for what is lasting and true。 The idea that pain through contact is how we learn not through theorising。It's focused on the lindy effect - the longer it's lasted the longer it'll last。 The way it's written is somewhat jarring and Taleb is suddenly a provocateur and some of the insults seem pretty unnecessary， I didn't mind too much it's a fair cost to pay for some of the valuable insights。 。。。more
Rory Lilley
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Tough read， but I enjoyed。 Good banter author calling out his haters， although the religion chapters went over my head
Nguyễn Vân
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Chịu trách nhiệm， rủi ro gì
J。 Justiniov
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Whenever vindicated， Nassim Taleb will write a book about it。 The Incerto， though typically an enjoyable walk through a plethora of subjects tethered to some central point， closes with the pinnacle of unfocused and self-lauded digressions。 Skin in the Game makes a fine companion to Antfragile insofar as it is a collection of scrapped chapters from the latter bundled together。This is not to say I did not enjoy Skin in the Game， because I intend to reread this the most; the most enjoyable read in Whenever vindicated， Nassim Taleb will write a book about it。 The Incerto， though typically an enjoyable walk through a plethora of subjects tethered to some central point， closes with the pinnacle of unfocused and self-lauded digressions。 Skin in the Game makes a fine companion to Antfragile insofar as it is a collection of scrapped chapters from the latter bundled together。This is not to say I did not enjoy Skin in the Game， because I intend to reread this the most; the most enjoyable read in the Incerto by far， its roughly 250 pages come and go more quickly than any other addition to the series。 Despite this， the eponymous cord that holds together Skin in the Game strains against the wide divergences from one "book" to the next。 Connecting the skin-in-the-game framework to a variety of disciplines makes for good fun， but chafes in those areas that Taleb either does not grasp completely or wanders off into the truly inconsequential。As an example， Taleb uses the skin-in-the-game framework to analyze the gyrovagues of Christian monasticism， but takes the opposite conclusion one might expect， given their history。 I would argue from a skin-in-the-game perspective that the gyrovagues embody a monastic lifestyle as a free option， mendicants who live as tramps without commitment to their beliefs as expounded in later chapters。 The option taken is against proper clergy and the villages they fool into supporting their vagrancy。Other Taleb takes， especially on religion， vary from the truly insightful to the outlandish， and the spectrum never finds coherence or verisimilitude。 Though I would argue that perhaps this captures the reality of Taleb， that he cannot be reduced as libertarian， a trader-cum-scholar， modern gentry， a Lebanese supremacist， or a madman。 He has tendencies in every direction but never lands in any square。 This is what makes his writing so engaging， in addition to the breadth of topics covered and his authentic style。 Surely this is the writing of a man self-owned。Antifragile and Black Swan remain the most important works in the Incerto and deserve attention。 If you enjoyed these two works for more than their purpose and importance， Skin in the Game is for you: Taleb without the reins of either。 It is a worthwhile and a pleasurable read， but do not expect more than "lost chapters" from the two aforementioned books。 。。。more
Rab Heath
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He's a dick， but content is legit He's a dick， but content is legit 。。。more
Abhijit Srivastava
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The technical appendix is the crux of this work。 It'll need solid understanding of probability to get to the bottom of it。Meanwhile， the book is inquisitive and makes you question your decision making skills。 An absolute delight， it is， to read his books。 The technical appendix is the crux of this work。 It'll need solid understanding of probability to get to the bottom of it。Meanwhile， the book is inquisitive and makes you question your decision making skills。 An absolute delight， it is， to read his books。 。。。more
Bouke
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