Skin in the Game: The Hidden Asymmetries in Daily Life

“Courage is the only virtue you cannot fake.”

CourageVirtue

Book:Skin in the Game: The Hidden Asymmetries in Daily Life

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“If you can't put your soul into something, give it up and leave that stuff to someone else.”

SoulPassion

Book:Skin in the Game: The Hidden Asymmetries in Daily Life

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“When people get rich, they shed their skin-in-the-game-driven experiential mechanism. They lose control of their preferences, substituting constructed preferences for their own, complicating their lives unnecessarily, triggering their own misery.”

WealthRichMiseryControl

Book:Skin in the Game: The Hidden Asymmetries in Daily Life

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“Learning is rooted in repetition and convexity, meaning that the reading of a single text twice is more profitable than reading two different things once.”

ReadingLearningConvexity

Book:Skin in the Game: The Hidden Asymmetries in Daily Life

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“If you do not take risks for your opinion, you're nothing.”

RiskIntegrity

Book:Skin in the Game: The Hidden Asymmetries in Daily Life

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“Life is sacrifice and risk taking, and nothing that doesn't entail some moderate amount of the former, under the constraint of satisfying the latter, is close to what we can call life. If you do not undertake a risk of real harm, reparable or even potentially irreparable, from an adventure, it is not an adventure.”

LifeRiskSacrificeAdventureHarmRisk Taking

Book:Skin in the Game: The Hidden Asymmetries in Daily Life

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“... it is about the distortions of symmetry and reciprocity in life: if you have the rewards, you must also get some of the risks— not let others pay the price of your mistakes. If you inflict risk onto others and they are harmed, you need to pay some price for it.”

ResponsibilityMoralityEthicsFairnessSymmetrySystemsDistortionsRisks

Book:Skin in the Game: The Hidden Asymmetries in Daily Life

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“... to figure out why ethics, moral obligations, and skills cannot be easily separable in real life, consider the following when you tell someone in a position of responsibility, say your bookkeeper, "I trust you." Do you mean that one you trust his ethics?”

MoralityEthicsSystemsSkin In The Game

Book:Skin in the Game: The Hidden Asymmetries in Daily Life

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“Don't tell me what you think: just tell me what's in your portfolio.”

BusinessAdviceMoralityEthicsFinanceSkin In The Game

Book:Skin in the Game: The Hidden Asymmetries in Daily Life

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