Don't take advice from someone who bears none of the cost of being wrong.
The real function is filtering rather than fairness: without downside exposure, bad strategies are never removed from the system and error accumulates.
Links
Typed edges. Anything below the line was authored on the other note and derived here.
extends →Never ask what someone thinks — ask what they are paid to think.Munger tells you to read the incentives; Taleb says reading them is unreliable and you should restructure the exposure instead. The move from diagnosis to mechanism.
supports →Take accountability under your own name: the downside of being wrong is capped, the upside of being right publicly compounds.Naval argues for putting your name on things because the upside compounds. Same structure approached from the other end — Taleb wants the downside attached for the honesty it enforces.