Note: This is an audiobook summary of the following book:

Skin in the Game: Hidden Asymmetries in Daily Life by Nassim Nicholas Taleb

About:

Nassim Nicholas Taleb was considered a modern prophet when his best seller The Black Swan predicted the 2007 economic recession. Now, Skin in the Game, his newest book, is considered to be his most provocative and practical work yet.

In this text, Taleb redefines the modern way of understanding the world and offers critical insight into the best ways people can contribute to a fair and just society while influencing each other for the better.

By citing examples from the beginning of history (the Hebrew Bible and the Code of Hammurabi) all the way to the 2016 election of Donald Trump, Taleb builds a compelling case about the importance of risk and reward. In his view, a willingness to accept personal risk for a situation is a crucial character trait of those society considers heroes, saints, and all other successful people.

In other words, Skin in the Game tells us to refrain from trusting anyone who won’t put their own security on the line. Living with the consequences of real risk is what’s necessary for fairness and justice to prevail.

Here’s what you’ll learn about in this summary:

• Why the minority so often rule the preferences of the majority
• Why ethical rules aren’t universal
• Taleb’s reasons why it’s possible to be an intellectual but still an idiot
• Why you shouldn’t ever trust someone’s opinion if they stand to gain from your decision
• The importance of having skin in the game for making decisions for greater society
• Why you should distrust complicated solutions that someone else was paid to find

And much, much more.