Big Ideas from...
..."Skin in the Game" by @nntaleb

Earlier, I wrote a thread about the book "Antifragile"

This created some great conversations

One stood out

He said that "Antifragile" was Taleb's best book, but that "Skin in the Game" was the most important

-Thread-

2. Intro Cont.

I had read "Skin in the Game" three times, once via audio.

It is a great book.

But more important than "Antifragile"?

I needed to study it like I had "Antifragile."

So, here we are.

This thread is a collection of aphorisms from the Prologue.

Let's start

3.

"Don't tell me what you 'think,' just tell me what's in your portfolio."

Advice needs to be based on experience gained from action, from actually doing something.

Not from theory.

4.

"Decentralization is based on the simple notion that it is easier to macrobullsh*t than microbullsh*t"

When you are where the action is taking place, it is difficult to sell bullsh*t

Narratives are easier to sell when they are from the center, removed from the action

5.

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

I teach, so I know where this class of people is coming from...school.

We train the abstract at the expense of the concrete.

Next

6.

"There is no evolution without skin in the game."

If there is no risk of ruin, then there is not enough pressure to lead to adaptation.

Ruin has to be an option.

7.

"Systems learn by removing parts, via negativa."

Systems get better when defective parts get removed

Money Twitter gets better when scammers, cheaters, and schemers are removed from the pool

Not when new accounts are added

Subtraction is more effective than addition

8.

"Skin in the game keeps human hubris in check."

If you have a chance of exiting the gene pool, you become more humble, more measured in your words and actions.

You talk less sh*t if there is the possibility of getting your ass kicked.

9.

"We are much better at doing than understanding."

We learn by doing.

The "optimal" course of action only becomes visible during the process of actual doing something.

Then, we can begin to understand.

Next

10.

"You may not know in your mind where you are going, but you know it by doing."

This can't be overstated.

You can't steer a parked car.

Action will reveal the necessary knowledge.

Action leads to adaptation.

Adaptation leads to knowledge.

Next

11.

"Those who talk should do and only those that do should talk."

Action rules all.

Talk without action is irrelevant.

People who talk without action are irrelevant.

12.

"Non-skin in the game people don't get simplicity."

People that don't have skin in the game don't need simplicity, because they don't have to do anything.

Doing leads to the "best" way of doing something.

This is only revealed through practice.

Next

13.

"If you do not take risks for your opinion, you are nothing."

For your opinion to have relevance, you must be exposed to possible harm for expressing your opinion.

Otherwise, you have no reason to even have the opinion.

14.

"Artisans have their soul in the game."

My personal favorite

Artisans do what they do BECAUSE they love the game.

They love all parts of the game, and are willing to risk everything to pay proper respect.

They do the right thing because it is the right thing.

Uno mas

15. Finish

This was a very quick trip through the Prologue of "Skin in the Game"

My advice is for you to check out each of the five books in @nntaleb's Incerto series.

Thanks for reading, I hope you enjoyed it!

If you did, please RT so that others might enjoy it too!

Cheers!