Beware the Hidden Risks of Upside Without Downside

In a world where some people have certain advantages that others do not, how do you navigate the landscape while still acting ethically? My guest today argues that we all need to put some more skin in the game.
His name is Nassim Taleb. If you read the AoM site, you’ve likely seen our articles about his antifragility concept. In his latest book, "Skin in the Game: Hidden Asymmetries in Daily Life," he explores the ethics of living in a complex and uneven world. We begin our conversation discussing what Taleb means by skin in the game and how it’s similar to traditional notions of honor. Nassim then explains what he means by asymmetries, how people exploit them unethically, and how skin in the game can reduce that exploitation. Taleb then explains why ethics are hard to scale, why minorities end up ruling, and what it means to put not only skin, but soul in the game.