People are brainwashed to not realize that so many “noble” pursuits (academia, service, anything where one is paid with “honors”) are zero-sum. And wealth pursuits, outside of rent seeking, aren’t zero-sum.
Category: Skin in the Game
Unless tweeting is risk-taking. Not really. It is like being anonymous.
The fact that he can come up with a few disconfirmatory anecdotes ( 1 novel out of 000s by Nabokov who was not a career academic) proves @naval ‘s point.
6) Socialists managed to drill in people’s heads the illusion that the money that pays for services is ultimately generated in Mars, that the industrial revolution was a British government project, & that … schoolteachers know anything about anything. 7) Probabilistically risk takers earn LESS than salarypeople, particularly when you consider CEOs as nonrisktakers acroparasites.
ATTENTION SALARYPEOPLE Next Friday when your guaranteed monthly paycheck is deposited, take a moment of gratitude for the entrepreneurs who took the risks so you get this risk-free income. Shaming an risk-taker for losing money is like shaming a soldier for losing a limb. 2) And remember that it is risk takers and the mechanism of risk-taking that pulled more than a billion people out of poverty, not the design of some NGOer, civil servant, or some other acroparasite on a steady salary. Gabish? 3) The CEO of the company is not the entrepreneur w/skin in the game, but often some acroparasite actor milking the system. 4) With civil servants, what you see is what is there. With entrepreneurs, what you see is the subset of successful ones, not the entire cohort, which includes a huge majority of failures. Yet we need this risk-taking.
The press is gloating over the fact that Trump lost more than a billion in 80-90s. IYIs don’t get that it is what got him elected: losing money (your own, not others) makes you real, unlike some lifeless hack. Life is risk taking. (Passage from #SkininTheGame)
In general, when people selfstyle themselves “entrepreneur”, “polymath”, or something of the sort, they’re not. Real entrepreneurs calls themselves “restaurant chain CEO”, “Ski equipment manufacturer”, “kidney imaging importer”…
People don’t know their preferences: they think they like large houses, but prefer to huddle in small spaces over large empty silent rooms. Never ask pple what they “like”, watch what they do. #Skininthegame If you explicitly understand what you *really* like, you have a yuuuge advantage in life. γνῶθι σεαυτόν
Soul in the game
This is what nudgeboy Richard Thaler @R_thaler never understood. Evolution is NOT an incentive but a FILTER.
