Thread by @IMRiskManager

Skin In The Game-Hidden Asymmetries in Daily Life by Nassim Nicholas Taleb

Week 2
#WeekendReading
#LearningTogether

https://twitter.com/IMRiskManager/status/1022842769264406529

1 The most reliable advocate for a product is its user.

2 The average behavior of the market participant will not allow us to understand the general behavior of the market.

3 The psychological experiments on individuals showing “biases” do not allow us to automatically understand aggregates or collective behavior, nor do they enlighten us about the behavior of groups.

4 Understanding how the subparts of the brain (say, neurons) work will never allow us to understand how the brain works.

5 It may be that be that some idiosyncratic behavior on the part of the individual (deemed at first glance “irrational”) may be necessary for efficient functioning at the collective level.