Think on this Friday morning of sad situation of the person who sent 400 resumés and looking at the iphone in a state of helplessness. There are millions of them facing the anxiety of unemployment over the weekend. Now think of the even sadder situation that should they get a job, it will be taken from someone else.

Now think of someone creating a job for him/herself. Odds are that not only he may have solved his own unemployment problem, but also created a job -and some happiness- for someone else.

via Think on this Friday morning of sad… – Nassim Nicholas Taleb | Facebook.

Friends, I remember from my childhood an account that lotteries used to be two-way: You can win (say 10 heads of cattle), or can lose (and become a slave). Anyone familiar with the idea? It is very relevant to the skin-in-the-game idea. Anyone has references?

via Friends, I remember from my childhood an… – Nassim Nicholas Taleb | Facebook.

Friends, after yesterday’s Dobelli diversion, let us move to skin in the game. I am posting the talk and paper but let’s try to do heuristics across domains, in areas where I could work (instead of enumerating examples of where it is employed).

The paper is here:
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2298292
Taleb on Skin in the Game | EconTalk | Library of Economics and Liberty
Nassim Taleb of NYU-Poly talks with EconTalk host Russ Roberts about his recent paper with Constantine Sandis on the morality and effectiveness of…

via Friends, after yesterday’s Dobelli… – Nassim Nicholas Taleb | Facebook.