Skin In The Game by Nassim Nicholas Taleb

Another one! *DJ Khaled voice* (I try not to make posts too long, but I also didn’t want to do the book a disservice)

Skin in the game by Nassim Nicholas Taleb.

Really enjoyed reading this book. I’d never heard of Taleb, but he wrote another book called Black swan which predicted the 2008 financial crisis.

Skin in the game looks at how detrimental it is to have systems where the people making risky decisions are not impacted when these decisions fail. For example Taleb looks at how foreign intervention does more harm than good and how the financial crisis occurred because bankers (he really hates them) weren’t losing from the decisions they made. Think of the phrase ‘putting other people’s neck on the line’.

He thinks everyone should have skin in the game when making decisions. Taleb also speaks of the minority rule where the intolerant minority will always win over the majority if what they want is not at a detriment to the majority.

I want to go into more detail but better you read the book. Taleb has an unconventional way of writing that’s kinda enjoyable, especially because he’s very to the point and makes it clear(very clear) the things he hates. If you’re ever bored check out his Twitter where he spends his day attacking anyone who stupidly criticises him. Because if you can give it you should be at risk of receiving it right (skin in the game). .
Taleb uses a a bit of maths and stats (I skipped that bit) to explain some of his theories, so you weirdos who love statistics are gonna have a field day.

Have you read this book? What did you disagree with?