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Skin in the Game

Skin in the Game

by Nassim Nicholas Taleb

The curse of modernity is that we are increasingly populated by a class of people who are better at explaining than understanding,

or better at explaining than doing.

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From Hammurabi to Kant

Hammurabi’s best-known injunction is as follows: "If a builder builds a house and the house collapses and causes the death of the owner of the house—the builder shall be put to death."

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The Golden Rule wants you to Treat others the way you would like them to treat you.

The more robust Silver Rule says Do not treat others the way you would not like them to treat you.

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Don't give crap, don't take crap.

More practical approach is:

Start by being nice to every person you meet. But if someone tries to exercise power over you, excercise power over him.

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There is always an element of fools of randomness and crooks of randomness in matters of uncertainty; one has a lack of understanding, the second has warped incentives. One, the fool, takes risks he doesn’t understand, mistaking his own past luck for skills, the other, the crook, transfers risks ...

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You do not want to win an argument. You want to win.

Indeed you need to win whatever you are after: money, territory, the heart of a grammar specialist, or a (pink) convertible car. For focusing just on words puts one on a very dangerous slope, since

We are much better at...

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Many kids would learn to love mathematics if they had some investment in it, and, more crucially, they would build an instinct to spot its misapplications.

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People who are not morally independent tend to fit ethics to their profession (with a minimum of spinning), rather than find a profession that fits their ethics.

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  1. artisans do things for existential reasons first, financial and commercial ones later. Their decision making is never fully financial, but it remains financial.
  2. they have some type of “art” in their profession; they stay away from most aspects of industrialization; they combine art a...

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Studying courage in textbooks doesn’t make you any more courageous than eating cow meat makes you bovine.

By some mysterious mental mechanism, people fail to realize that the principal thing you can learn from a professor is how to be a professor—and the chief thing you can learn f...

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Sometimes I would offer something for sale for, say, $5, but communicated with the client through a salesperson, and the salesperson would come back with an "improvement", of $5.10.

Something never felt right about the extra ten cents.

It was, simply, not a sustainable way of...

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Jean-Louis Rheault

In Canada, when we say bilingual, it is English- speaking, and when we say French-speaking it becomes bilingual.

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You cannot steal "a little bit" or murder "moderately" — just as you cannot keep kosher and eat "just a little bit" of pork on Sunday barbecues.

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margaret mead

Never doubt that a small group of thoughtful citizens can change the world. Indeed, it is the only thing that ever has

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Periander

Use laws that are old but food that is fresh

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Tom Holland

The Romans judged their political system by asking not whether it made sense but whether it worked.

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Nassim Nicholas Taleb

Anything that smacks of competition destroys knowledge.

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Nassim Nicholas Taleb

There is this illusion that just as businessmen are motivated and rewarded by profits, scientists should be motivated and rewarded by honors and recognition. That’s not how it works. Remember, science is a minority rule: a few will run it, others are just back-office clerks.

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Nassim Nicholas Taleb

Doing things in the real world, in some professions (such as medicine), bears the name clinical, which is not deemed to be scientific. Many disciplines lack this third dimension, the clinical one.

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Men feel the good less intensely than the bad.

(A psychological theory by which a loss is more painful than a gain is pleasant.)

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Madness of crowds

Madness is rare in individuals, but in groups, parties, nations, it is the rule.

- Nietzsche

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NASSIM NICHOLAS TALEB

Courage (risk taking) is the highest virtue.

We need entrepreneurs.

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NASSIM nicholas taleb

How much you truly “believe” in something can be manifested only through what you are willing to risk for it.

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NASSIM NICHOLAS TALEB

Not everything that happens happens for a reason, but everything that survives survives for a reason.

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