Skin in the Game By Nassim Nicholas Taleb
Skin in the Game: Hidden Asymmetries in Daily Life is a 2018 nonfiction self help book by Nassim Nicholas Taleb, a former options trader with a background in the mathematics of probability and statistics.
Citizens, artisans, police, fishermen, political activists and entrepreneurs all have skin in the game. Policy wonks, corporate executives, many academics, bankers and most journalists don’t. It’s all about having something to lose and sharing risks with others. in his most provocative and practical book yet, Nassim Nicholas Taleb shows that skin in the game, often seen as the foundation of risk management, in fact applies to all aspects of our lives.
In his inimitable style, Taleb draws on everything from Antaeus the Giant to Hammurabi to Donald Trump, from ethics to used car salesmen, to create a jaw-dropping framework for understanding this idea. Among his insights:
For social justice, focus on symmetry and risk sharing.
Minorities, not majorities, run the world.
You can be an intellectual yet still be an idiot.
Beware of complicated solutions (that someone was paid to find).
Just as the Black Swan did during the 2007 financial crisis, Skin in the Game comes at precisely the right moment to challenge our long-held beliefs about risk, reward, politics, religion and business – and make us rethink everything we thought we knew.