Skin in the Game cover art

Skin in the Game

Hidden Asymmetries in Daily Life

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Skin in the Game

By: Nassim Nicholas Taleb
Narrated by: Joe Ochman
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About this listen

 #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.” Business Ethics Ethics & Morality Management Management & Leadership Philosophy Politics & Government Sociology Workplace & Organisational Behavior Business Inspiring Thought-Provoking Physical Exercise Leadership Law Middle East Social justice Middle Ages

Critic reviews

Praise for Nassim Nicholas Taleb

“The problem with Taleb is not that he’s an asshole. He is an asshole. The problem with Taleb is that he is right.”—Dan from Prague, Czech Republic (Twitter)

“The most prophetic voice of all . . . [Taleb is] a genuinely significant philosopher . . . someone who is able to change the way we view the structure of the world through the strength, originality and veracity of his ideas alone.”—John Gray, GQ

“Taleb grabs on to core problems that others ignore, or don’t see, and shakes them like an attack dog on a leg.”—Greg from New York (Twitter)

“For my wife and me, Antifragile is an annual reread.”—Colle from Richmond, Virginia (Twitter)

“I read Antifragile four times. First, to get the wisdom to survive. Second, as a memorial statement for Fat Tony. Third, as Das Kapital with correct mathematics. Fourth, as ethics to learn a good way to die.”—Tamitake from Tokyo, Japan (Twitter)

“November . . . time for my annual reread of Antifragile.”—Johann from Vienna, Austria (Twitter)

“[Taleb writes] in a style that owes as much to Stephen Colbert as it does to Michel de Montaigne.”—The Wall Street Journal
All stars
Most relevant
Skin in the Game is an enjoyable collection of anecdotes, observations and angry diatribes. It is also much inferior to the previous three volumes in the "Incerto" series. Taleb is still scratching the same itch and seeking after the same high. But he has run out of things to say.

His message remains important, but please go read Antifragile, Black Swan or Fooled by Randomness instead. They will give you everything you need. This aimless volume, which merely introduces a few new terms to explore again many of his familiar topics, can only be recommended to devoted Taleb fans.

Diminishing returns

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If you've read anything else by Teleb, you won't be disappointed with Skin in the Game. Another thoughtful rant covering many fields and subjects. If you haven't read anything by him before... I would suggest reading fooled by randomness first, but that's just personal preference, his books can be read in any order. I can't recommend them highly enough. They prove what the majority of people believe about risk, probability and indeed life, is wrong.

Another great work by Teleb

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This was my first of the series from Nasim Taleb. It was like listening to the rant of a smart but drunk Uncle. A bit like the American know it all at the party that just needs to listen before he talks.
That being said, it was entertaining and some food for thought. He is an equal opportunities offender. Everyone from Obama to Salafism gets a mention. Lots of personal score settling.

Funny and entertaining

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It was an excellent thought provoking book. He is getting better with each successive book.

Exciting thought provoking.

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a necessary education for so many in modern times. Taleb shows the sharp trader's wit and a tonne of insight. get it read!

excellent

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