Top 10 Lessons From the Book: “Skin in the Game”

By Nassim Nicholas Taleb

Book Summary

1. “Talk is cheap.” Stop talking about doing things and actually DO THEM. This world desperately needs courageous individuals, who will take action on their dreams. Be that person.

2. “Experience vs. Theory.” “We are much better at doing than understanding.” Experience is your best teacher. We as humans are meant to be DOING THINGS. Not just theorizing about stuff all day.

3. “Yes or No?” Every decision can be simplified down to either being for or against something. No matter the sophistication of the situation, try to boil it down to a simple “YES” or “NO”

4. “Dominance of the Minority.” Most people are passive and don’t care enough to debate topics. This is how books get banned for example. All it takes is a small minority who are really stubborn to move the needle.

5. “Take the RIGHT advice.” Take advice from those who have skin in the game. Most people will dish out advice and have no idea what they’re talking about. Or they will somehow benefit from you taking their suggestion. Pay attention.

6. “Don’t waste energy on convincing.” You won’t be able to fully convince other people that they’re wrong. Only Reality can do this.

7. “People hate uncertainty.” Most people will choose McDonald’s over a random Mexican restaurant because they know what to expect from McDonald’s. People will choose mediocrity over uncertainty.

8. “Employee mindset.” If a person has been an employee for a while, he/she has submitted. If they are not looking for alternative ways to make money they are like an obedient, housebroken dog.

9. “Real success.” “And I will keep mentioning that I have no other definition of success than leading an honorable life. Honor implies that there are some actions you would categorically never do, regardless of the material rewards.” This is Nassim’s definition.

10. “How trust works.” You must always be clear about your intentions. This will also make you vulnerable and when you combine the two, you cannot be “shamed.” You can protect yourself this way.

CONGRATULATIONS! You have made it to the end of this thread. Here is my message: You HAVE to pursue your dreams. Our birthright as humans is greatness, but it is up to YOU to make your dreams a reality. Keep pushing. I believe in you.