Live data from Hacker News

Skin in the Game – chapter drafts by Nassim Taleb

fooledbyrandomness.com

1–10 of 131 posts

Re: Skin in the Game – chapter drafts by Nassim Taleb

#3
I look forward to reading this book. It would be interesting to have an investigation of the two different kinds of "skin in the game" in this book.

There is a positive spin of the expression, e.g. the entrepreneur, who has skin in the game of his company via his shares and resources. This scenario (ideally) results in eustress.

However, there is also a negative spin of the expression, e.g. an employee, who has skin in the game by being afraid of losing his job. Usually, this leads to distress over the long term.

Hence, if I want to employ someone I face a dilemma: the employee should have skin in the game, but it shouldn't create distress. There's a huge set of options you can go with as the employer, but I wonder if there is an optimal solution.

Re: Skin in the Game – chapter drafts by Nassim Taleb

#4
For somebody who wrote 'Fooled by ..' one of my favorite books of all time, he certainly doesn't seem to suffer from self-doubt when it comes to stating his personal hypotheses. I can look past his condescending tone (especially towards the wealthy and 'pseudo' intellectuals), but his certitude in his own ideas -- especially after pressing home the point that we are surrounded by randomness -- tarnishes his punditry in my view.

Re: Skin in the Game – chapter drafts by Nassim Taleb

#6
Here are two Facebook posts from Taleb related to the topic and a ~3 minute video that has the main point.

"The establishment composed of journos, BS-Vending talking heads with well-formulated verbs, bureaucrato-cronies, lobbyists-in training, New Yorker-reading semi-intellectuals, image-conscious empty suits, Washington rent-seekers and other "well thinking" members of the vocal elites are not getting the point about what is happening and the sterility of their arguments. People are not voting for Trump (or Sanders). People are just voting, finally, to destroy the establishment." - 7th March - https://www.facebook.com/nntaleb/posts/10153654273663375

"What we are seeing worldwide, from India to the UK to the US, is the rebellion against the inner circle of no-skin-in-the-game policymaking "clerks" and journalists-insiders, that class of paternalistic semi-intellectual experts with some Ivy league, Oxford-Cambridge, or similar label-driven education who are telling the rest of us 1) what to do, 2) what to eat, 3) how to speak, 4) how to think... and 5) who to vote for. With psychology papers replicating less than 40%, dietary advice reversing after 30y of fatphobia, macroeconomic analysis working worse than astrology, microeconomic papers wrong 40% of the time, the appointment of Bernanke who was less than clueless of the risks, and pharmaceutical trials replicating only 1/5th of the time, people are perfectly entitled to rely on their own ancestral instinct and listen to their grandmothers with a better track record than these policymaking goons. Indeed one can see that these academico-bureaucrats wanting to run our lives aren't even rigorous, whether in medical statistics or policymaking. I have shown that most of what Cass-Sunstein-Richard Thaler types call "rational" or "irrational" comes from misunderstanding of probability theory." - 9th March - https://www.facebook.com/nntaleb/posts/10153658794008375

"Nassim Taleb: Skin in the Game" - 2m48s - 22nd April - https://www.youtube.com/watch?v=0Uc4DI-BF28

Re: Skin in the Game – chapter drafts by Nassim Taleb

#8
post #5

Am I the only one who doesn't enjoy Taleb's writing style? I find that he tends to use overly complex vocabulary to explain very simple ideas.

He's not the best writer. One reads his books for their ideas and wacky anecdotes, not the beauty of the writing style.

Re: Skin in the Game – chapter drafts by Nassim Taleb

#9
I thoroughly enjoyed his other book, "Anti-Fragile" and even more enjoy his twitter feed. He may be low on humility factor, but him calling out BS is refreshing, esp. the self-proclaimed vanguards of science whose work in science is filled with holes and/or is sparse.

Read some of the preview chapters, posted here and twitter feed. Fits very well with his writing style and over all theme. I look forward to read this book.

Re: Skin in the Game – chapter drafts by Nassim Taleb

#10
post #4

For somebody who wrote 'Fooled by ..' one of my favorite books of all time, he certainly doesn't seem to suffer from self-doubt when it comes to stating his personal hypotheses. I can look past his condescending tone (especially towards the wealthy and 'pseudo' intellectuals), but his certitude in his own ideas -- especially after pressing home the point that we are surrounded by randomness -- tarnishes his punditry…

I agree with this and loved Fooled By Randomness. Taleb clearly thinks a lot about these types of things and usually has very interesting ideas. He also has fun analogies and presents things in a way that makes you think differently (partly because he doesn't state things with a lot of nuance).

However, he also comes off as quite arrogant to me with criticism of just about all others in society except for himself for one reason or another. Criticism of 'pseudo' intellectuals is especially ironic -- as at this point in his career he is probably best described as a pseudo-intellectual book author.

Post reply on HN