Book Summary: Skin in the Game
2 min readOct 21, 2018
- If there’s no skin in the game for the person offering you a deal, don’t take it
- Agree on all points about fake liberalism
- Eat your own turtles
- Information asymmetry leads to poor decisions for the person with less information
- Be wary of individuals trying to con you with information asymmetry
- Socialism has the opposite effect from what it is intended for
- You should think of collective group not universally but at a much smaller scale
- Swiss are an interesting case as always
- However during contingencies the risks and costs are to be shared equally
An employee: someone you will never find in history books because they never leave a mark. An employee is more valuable inside a firm than outside or in the marketplace. - Employees are modern day slaves.
- Would you like to be a dog or a wolf? “Of all your meals, I want nothing”
- Freedom is never free, real skin in the game
- Domesticated and sterilized animals (like employees) don’t stand a chance in front of a wild predator
- Your family and others also have their skin in your game
- Life is sacrifice and risk taking
- It’s the period of fake intellectualism. Intellectuals that can’t define intelligence.
- Reality is having skin in the game
- Lindy effect: things that grow over time or survive with time are the things by real experts. No more of the problem: who guards the guards
- Ancient grandmother wisdom is the Lindy certified wisdom
- You need to hide your wealth and your knowledge to have real friends
- If money is reducing your options, you’re doing it wrong
- Verbal threats reveal nothing. Action >> talk. Own your enemies
- Take pictures to shame people in their reprehensible acts
- Hire from the second best college
- Virtue is what we do when no one’s watching. If your choices in your private life conflict with your opinions, your opinions don’t matter.
- A car salesman should be driving the car he is selling
- Courage is the highest virtue. We need risk takers and entrepreneurs.
- Herb Simon, gerd gigirenzer , kin binmore
- Not everything happens for a reason but everything that survives survives for a reason
- Selfish courage is not courage.
- Rationality is produce and calculated risk, something which adds to your survival
- Again, actions count words don’t. Opinions are opinions (accidentally mistyped to onions while typing initially and that seems to be applicable as well)
- In a strategy that can bring ruin, benefits never offset it. Rationality is avoidance of that systemic ruin.
