Talking One’s Book (Skin in the Game)

Be careful of taking advice from people with misaligned incentives. If someone advises you to do something that is mutually beneficial, realize they may not care if you end up being harmed.   Traders understood this, they did not sell to other professional traders when they had excess inventory to unload – doing so would … Read more

Some Things Don’t Scale (Skin in the Game)

In Book 1, Taleb introduces an outline of his arguments. Hierarchies aren’t so bad Hierarchies are not inherently bad, they are only harmful when they result in bureaucracies that help people separate themselves from the consequences of their decisions. Hierarchies should exist, and if they are localized and decentralized then they would not result in … Read more

Chapter 9: Reach out to elect someone (Amusing Ourselves to Death)

Chapter 9: Reach out to elect someone By bringing together in compact form all of the arts of show business—music, drama, imagery, humor, celebrity—the television commercial has mounted the most serious assault on capitalist ideology since the publication of Das Kapital. To understand Postman’s point here, it is useful to remember that capitalism, like science … Read more

Chapter 3: Typographic America (Amusing Ourselves to Death)

Chapter 3: Typographic America The Bible was the central reading matter in all households – Protestants shared Luther’s belief that printing was “God’s highest and extremest act of Grace, whereby the business of the Gospel is driven forward.” But these people did not just read the Bible or religious books, they read many nonreligious books. … Read more