Skin in the Game (Nassim Nicholas Taleb, 2017)

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Review: it covers a very extensive and somewhat related topic that encompass human pattern, easy to read as it segmentise into many small sections. Time to get your hands dirty! Rated: 8.5 / 10


  • Those who talk should do and only those who do should talk
  • The most intolerant wins - renormalisation group: (e.g.) one fellow in the intransigent group only eat GMO food, her family have to accomodate and in a bbq the other families have to follow to
  • Someone who has been employed for a while is giving you strong evidence of submission
  • The best slave is someone you overpay and who knows it, terrified of losing his status
  • Dynamic stochastic general equilibrium modeling (DSGE) is a method in macroeconomics that attempts to explain economic phenomena, such as economic growth and business cycles, and the effects of economic policy, through econometric models based on applied general equilibrium theory and microeconomic principles
  • Traders, when they make profits, have short communications; when they lose they drown you in details, theories, and charts
  • Lindy effect:the future life expectancy of some non-perishable things like a technology or an idea is proportional to their current age, so that every additional period of survival implies a longer remaining life expectancy
  • Grandparents’ wisdom
    • Loss aversion: people's tendency to prefer avoiding losses to acquiring equivalent gains: it is better to not lose $5 than to find $5
    • Antifragility: a property of systems that increase in capability to thrive as a result of stressors, shocks, volatility, noise, mistakes, faults, attacks, or failures
    • Time discounting: the current relative valuation placed on receiving a good at an earlier date compared with receiving it at a later date
    • Paradox of progress: the more society moves forward, the more problems are created
  • Never hire an academic unless his function is to partake of the rituals of writing papers or taking exams
  • Problem with interventionista - getting involved with people’s business but make it worst
  • The Ocular-Motor Deception Test (ODT) is an automated psychophysiological test for deception designed for use in a screening environment
  • Ergodicity: the ensemble average equals the time average
  • Courage is when you sacrifice your own well-being for the sake of the survival of a layer higher than yours: you > family, friends, pets, tribe > self-defined extended tribe > humanity > ecosystem


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