Antifragile: Things That Gain from Disorder

Taleb highlights the significance of taking risks for others but also having a personal stake in decision-making. According to him, in ancient societies, one’s value was determined by the extent of risks undertaken for others, and as a result, heroism was celebrated. However, in the modern “knowledge world,” a gap exists between knowing and doing, and this dichotomy leads to societal vulnerability. Taleb suggests that opinion makers should bear scars from their prediction errors and have skin in the game. Additionally, he discusses the asymmetrical rewards in corporate management and how antifragility is transferred from the small to the large until the latter fails. Marketing, Taleb believes, is bad manners, as societies function due to random acts of generosity rather than sales-driven methodologies.

Taleb discusses the importance of both taking risks for the sake of others and having “skin in the game” in decision-making. He argues that in traditional societies, a person’s worth was determined by the downside risks they were willing to take for others, and that heroism was respected and powerful. Furthermore, Taleb suggests that opinion makers should have clear skin in the game, whatever their field happens to be, as well as visible scars from prediction errors as they occur.