If you’ve read Nassim Nicholas Taleb, you’ve experienced both his genius and his scathing appraisal of people, professions, and other topics that draw his ire. I thoroughly enjoy reading his works, and no matter your opinion on his style or content, he is always thought provoking.
I recently finished “Skin in the Game,” and I highly recommend you read it. One of his many topics of focus is his argument that academics and intellectuals, or as he likes to call them, Intellectuals Yet Idiots (IYIs), have acquired significant book smarts, yet lack relevant experience. He says, “So always keep in mind that historians and policy scholaristas are selected from a cohort of people who derive their knowledge from books, not real life and business. The same is true for State Department employees, since these are not hired among adventurers and doers, but students of these scholars. Let’s say it bluntly: spending part of your life reading archives in the stacks at the Yale Library doesn’t fit the nonacademic temperament of someone who has to be aware and watch his back, say, a debt-collector for the Mafia or a pit spectator in fast commodities. (If you don’t get this, you are an academic.)”
Wow! While some readers may feel his words are harsh, and even offensive, I love the fact that his notion of skin in the game challenges me to consider my experiences against my reading, and to draw conclusions and form opinions accordingly. Especially when offering advice. Taleb warns against those who offer advice yet don’t have to face any of the consequences of that advice.
So what’s the point? As I look for ways to add value in my relationships and businesses, it can be tempting to offer advice or tidbits gained from the latest book read, podcast listened to, or interview conducted. While my intentions may be pure, it is worth examining the true value I am attempting to add. Do I have any skin in the game for the recommendations I make and the questions I ask? Will I share in the consequences of decisions made because of my engagement?
The answers to these important questions will approach the affirmative as I commit to truly add value to others. If I am willing to share in their experience, to have skin in their game, then, and only then, am I worthy of offering advice, and ultimately, adding value.
Written by David Gutierrez
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