Skin in the Game
by Nassim Nicholas Taleb
Taleb on asymmetry: never trust advice from people who do not bear the consequences, the minority rule, why bureaucrats and forecasters are dangerous, and ethics as exposure to downside. It is combative and often unfair, and its core principle is one of the most useful filters available for whom to listen to.
Read it if…
you want a filter for advice and expertise: who pays if they are wrong?
Skip it if…
you tire of the author's feuds; they are prominent here.
Three things you will actually use
- Take risk; do not transfer it to others.
- Trust those who have skin in the game.
- Judge by what people do with their own money and time.
Do this first
List the people whose advice you follow and mark which ones share your downside; weight accordingly.
Our verdict
Combative and clarifying.
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