Sonntag, 18. November 2018

Skin in the Game - Virtue and Risk-Taking:

Transcript

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"You see, there’re a lot of virtues, we’re going to talk about virtues, that are fake because anybody can signal these virtues. But risk-taking is real, you cannot fake risk-taking, you cannot fake risk; you can fake virtue. Or what we call, regularly, virtue."

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And this is something that people don’t get, is that any virtue that doesn’t entail some kind of sacrifice or cost is not virtue. The gods in the old days did not let you, you know, just, you know, claim to be their subject or something without paying a price, without having something to lose for it.

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"Because think about it, if you’re God, you don’t have skin in the game, it’s like in a Superman thing, alright, you have to have some vulnerability somewhere, alright, you have to suffer. So you suffer because you have skin in the game; that’s the whole concept."

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"why should a failed entrepreneur be not something very honorable? More honorable than some who’ve never been an entrepreneur."

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