SKIN IN THE GAME: The Hidden Asymmetries in Daily Life
by Nassim Nicholas Taleb
Did you realize that many of the “expert” solutions or interventions actually end up causing more harm than good? How often have you received advice which is supposed to be “good for you”, but actually benefits the other person much more? “Skin in the game” refers to the amount of risk or vested interest you have in an outcome. In this book, Nassim Nicholas Taleb discusses ethics in an uncertain world, why a lack of skin in the game creates real-world problems, and what we can do about it.
In this summary, you’ll learn:
• The 3 powerful benefits of having skin in the game, and why you should apply the “Silver Rule” to all major decisions in life;
• About asymmetries and agency problems, and find out how they exist all around you–from politics to market transactions, journalism, peace-making efforts, and daily decisions. Learn how a stubborn minority is actually controlling your environment, how you’re codependent with your employer, and why others’ skin in the game affect your own freedom.
• How to filter out the bulls**t and stop getting deceived by appearances. Find out how to dissect empty talk, separate “fake” knowledge from real-world experience, and throw out unnecessarily-complex solutions from specialists, bureaucrats and scholars.
Who should read this:
• Policy-makers, decision-makers, bureaucrats, scholars, salespeople, analysts and leaders in profit, nonprofit, and public sectors.
• Anyone who wants to expand their perspectives, and make better decisions.