Skin in the game

There is less “skin in the game” today than there was fifty years ago, or even twenty years ago. More people determine the fates of others without having to pay the consequences. Skin in the game means you own your own risk. It means people who make decisions in any walk of life should never be insulated from the consequences of those decisions, period...if you’re making economic decisions, you should bear the cost if you’re wrong. - Nassim Taleb

I came across this dated article on Esquire some days back. Fully resonate with it. Too many people try to their give point of views, put on the virtual decision maker's cap and try to play the role of the senior authoritative figure. Unfortunately, too many of these people also do not have the appropriate execution capabilities and sufficient skin in the game.


I have got nothing against them. I appreciate the offer of goodwill and the sharing of perspectives. Maybe I am a cynic and could come across as being arrogant or aloof. But maybe after 4 years, I've just lost my patience for "testosterone talk".


At the end of the day, there is always a fine line between being heard / appreciated and making decisions. As Ray Dalio puts it: "Make sure people don’t confuse the right to complain, give advice, and openly debate with the right to make decisions"

Topics

Pinned

Three "epic fails" nearly wiped me clean this year. Here are five things I’d learned from these painful lessons: 1) Despair and greed (bo...

In 1990, a psychologist quoted in the New York Times reported that people “turn on the TV when they feel sad, lonely, upset or worried, a...

Good investors are first and formost by nature: business people. They should be entrepreneurs, owners of businesses or have been placed...

IB isn't only about late nights & number crunching, but also the toxic & condescending environment one has to put up for many years to come.

There’s nothing you should regret in life - all the good things that you have today are a result of everything that has happened. Consist...

Money is the one thing that you can always replace any time or at some point of time in the future - money is just money.

More than three years since I started out, I discovered a new-found respect for the many areas of businesses which are presumably oblivio...

Learning, knowledge and staying up to date with the news and what's going on in the world is your own personal responsibility. The same g...

Connect

  • My LinkedIn Page
  • My Twitter
  • Instagram

More

  • My LinkedIn Page
  • My Twitter
  • Instagram
  • Medium

©Since 2004 | About kennyng.com