Skin in the Game: Hidden Asymmetries in Daily Life
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7%
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one debases a principle by endlessly justifying it.
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Their three flaws: 1) they think in statics not dynamics, 2) they think in low, not high, dimensions, 3) they think in terms of actions, never interactions.
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The principle of intervention, like that of healers, is first do no harm (primum non nocere); even more, we will argue, those who don’t take risks should never be involved in making decisions.
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Bureaucracy is a construction by which a person is conveniently separated from the consequences of his or her actions.
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Decentralization reduces large structural asymmetries.
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You will never fully convince someone that he is wrong; only reality can.
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The curse of modernity is that we are increasingly populated by a class of people who are better at explaining than understanding,
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Avoid taking advice from someone who gives advice for a living, unless there is a penalty for their advice.
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Things designed by people without skin in the game tend to grow in complication (before their final collapse).
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If you do not take risks for your opinion, you are nothing.
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Beware of the person who gives advice, telling you that a certain action on your part is “good for you” while it is also good for him, while the harm to you doesn’t directly affect him.
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to some extent, the modern world, seem to have
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What matters isn’t what a person has or doesn’t have; it is what he or she is afraid of losing.
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Contemporary peers are valuable collaborators, not final judges.
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“Give me a few lines written by any man and I will find enough to get him hung”
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It is much more immoral to claim virtue without fully living with its direct consequences.
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Courage is the only virtue you cannot fake.
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Survival comes first, truth, understanding, and science later.
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How much you truly “believe” in something can be manifested only through what you are willing to risk for it.
81%
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If humans were immortals, they would go extinct from an accident, or from a gradual buildup of misfitness. But shorter shelf life for humans allows genetic changes across generations to be in sync with the variability of the environment.
83%
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In a strategy that entails ruin, benefits never offset risks of ruin.