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Skin in the Game
Skin in the Game
Oct 7, 2024 7:33 PM

Author:Nassim Nicholas Taleb

Skin in the Game

From the bestselling author of The Black Swan, a bold book that challenges many of our long-held beliefs about risk and reward, politics and religion, finance and personal responsibility

Why should we never listen to people who explain rather than do? Why do companies go bust? How is it that we have more slaves today than in Roman times? Why does imposing democracy on other countries never work?

The answer: too many people running the world don't have skin in the game. In his inimitable, pugnacious style, Nassim Nicholas Taleb shows that skin in the game applies to all aspects of our lives. It's about having something to lose and taking a risk. Citizens, lab experimenters, artisans, political activists and hedge fund traders all have skin in the game. Policy wonks, corporate executives, theoreticians, bankers and most journalists don't.

As Taleb says, "The symmetry of skin in the game is a simple rule that's necessary for fairness and justice, and the ultimate BS-buster," and "Never trust anyone who doesn't have skin in the game. Without it, fools and crooks will benefit, and their mistakes will never come back to haunt them".

Reviews

A thinker for uncertain times. . . If you want to better understand populism, Trump, Brexit and the anti-establishment backlash then Taleb, of no party or clique, is your man

—— Josh Glancy , Sunday Times

A great iconoclast. . . Taleb, a Wall Street trader turned essayist, is a thinker touched by genius. . . The big picture he presents is powerfully argued and offers myriad policy implications

—— Matthew Syed , The Times

The most prophetic voice of all . . . Taleb is a genuinely significant philosopher . . . someone who is able to change the way we view the structure of the world through the strength, originality and veracity of his ideas alone

—— John Gray , GQ

Nassim Nicholas Taleb is the Richard Wagner of uncertainty. While the Ring Cycle of the German composer/librettist portrayed the struggle of the gods in a series of operas, the Incerto series of books by the Lebanese-American author is devoted to humans -- specifically how we deal with the endemic risk in our all-too-finite existence

—— Dominic Lawson , Sunday Times

As always with Taleb, this is a fascinating set of ideas. And he's right. People with skin in the game learn how the game works. Without it, they don't

—— William Leith , Evening Standard

The author of The Black Swan is back with a simple warning: don't buy what your neighbour is selling unless he owns some too. The obvious application for this is investing, but Taleb has a much broader domain. In a kind of philosophical Freakonomics, he takes us from 5th-century wandering monks (banned by the church because they were too free) to Donald Trump (his imperfections showed he had skin in the game)

—— Rosamund Urwin , Sunday Times Books of the Year

The Culture Code is a step-by-step guidebook to building teams that are not just more effective, but happier. Whether you lead a team or are a team member, this book is a must-read.

—— Laszlo Bock, former SVP of People at Google and author of Work Rules!

There are profound ideas on every single page, stories that will change the way you work, the way you lead, and the impact you have on the world. Highly recommended, an urgent read.

—— Seth Godin, author of Linchpin

Shares the simple changes you can make to work better with others . . . Coyle spent four years researching military units, professional basketball teams, comedy troupes and even a gang of jewel thieves to better understand how groups thrive, along with what doesn’t work.

—— Entrepreneur

Pop science meets a business pep talk in a useful primer on building better organisations . . . Useful throughout.

—— Kirkus Reviews

Well-told stories, with actionable lessons . . . The Culture Code yields some useful findings.

—— Business Books of the Month , Financial Times

The author of the bestselling 2009 The Talent Code focuses on how ongoing learning, genuine collaboration, thoroughgoing trust, and sustainable change can contribute to better innovation and problem-solving.

—— Recommended Books For Creative Leaders , Forbes

An essential book that unlocks the secrets of highly successful groups and provides readers with a toolkit for building a cohesive, innovative culture.

—— Business Insider

A masterfully written book.

—— Yorkshire Post

The Culture Code examines the dynamics of company culture through stories of success and failure, offering valuable insights on leadership through change.

—— Anthony Noto, CEO of Sofi, Books of the Year , Bloomberg
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