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Tag Archives: skin in the game

NO WORSHIP WITHOUT SACRIFICE (Skin in the Game)

NO WORSHIP WITHOUT SACRIFICE (Skin in the Game) This is a picture of a church altar in Maaloula (St Sergius/Mar Sarkis) I saw a few decades ago, with a striking feature: it has a drain for blood. This altar came from a reconverted pagan temple used by early Christians. Pre Nicea (4th C) Christians recycled […]

WEALTH INEQUALITY AND SKIN IN THE GAME

WEALTH INEQUALITY AND SKIN IN THE GAME A well functioning society isn’t one in which people are equal but one in which people have equal *probability*. So measuring static inequality is severely flawed. Take the United States. Less than 10% of the people in the 1982 list of richest 500 were there in 2012. Compare […]

SUPERSTITIONS AS RISK MANAGEMENT, A PROJECT

SUPERSTITIONS AS RISK MANAGEMENT, A PROJECT We can look at supersitions as x% useless and 1-x % with survival benefits, except that it is hard to know beforehand what is useless and what is not, what is “irrational” and what has a hidden implicit rationality that helps navigate opaque systems. But it suffices that a […]

SKIN IN THE GAME and OUR FRAUD DETECTOR

SKIN IN THE GAME and OUR FRAUD DETECTOR + Have you ever wondered why people are upset by CEO compensation, sometimes >200x that of the average employee, but not if an entrepreneur makes the same amount of money; nor are they upset with singers, authors, or performers? + The economist Thomas Sowell found this an […]

As technology increases, misunderstanding of ruin by a very small number of people is sufficient to guarantee ruin

https://twitter.com/nntaleb/status/622407350482305024 https://twitter.com/nntaleb/status/622375840144302080 https://twitter.com/nntaleb/status/622127777064595456 As technology increases, misunderstanding of ruin by a very small number of people is sufficient to guarantee ruin https://www.facebook.com/permalink.php?story_fbid=10153193506938375&id=13012333374 … Greece: Neither those who made the decision to borrow nor those who made the decision to lend had skin in the game. “Other people’ money”. Friday probability quiz. X has 2 children. One […]