It’s impossible for me to give a fuck about anyone’s opinion on something where they have no skin in the game.
Literally a worthless opinion.
Discussion
Buy it, short it, or shut it.
Don’t tell me what you believe. Show me what’s in your portfolio. - N.N. Taleb
How do you know how much skin, someone else, has in the game though....🥂🎅
Agree, man
I keep seeing these commercials of people warning about fentanyl, but I know for a fact they’ve never even tried it so I don’t listen to that shit 😂
So by that logic, should one ignore your opinion on rental real estate or ethereum or fartcoin?
I’ve owned 2/3 in the past
Haha I didn't know that. I guess the point was, we often have opinions about things that we haven't personally been involved in, particularly if we believe they are negative/scams.
I've never been in a cult but I have opinions about them that I think are valid. Same about cannibalism.
Yeah but your opinion is actually worthless contrasted against that of the cult and ex cult members, mine too. We simply don’t have as much skin in the game.
It sounds like you are saying experience trumps all other knowledge. You can reason about something and have a valid/more informed opinion than a participant in something
I agree with what you said previously specific to ex cult members, but not for ppl who currently are cult members. A member of a cult has a deeply vested interest in finding confirmation of their life choices and can be deeply biased while someone looking from the outside may be able to avoid said biases.
Take it to a crypto example. An ex ETH maximalist may have great perspective on why ETH is the mother shitcoin. But how about someone deeply indoctrinated into ETH who thinks it is ultra sound money? Is their opinion more valid than mine (someone who has never owned that piece of shit)? I observed from the outside, did some reading and drew my conclusion.
They’re opinion has value, but it doesn’t mean it’s the correct opinion.
Sure. I think the point is you're saying in the OP that the opinion of someone who does not have skin in the game, but is correct, is worthless. I'm arguing that the opinion of someone who is correct has value, even if they are not directly vested in the situation.
Anyway, think we've beaten this horse to death at this point 😁
People do not understand what conviction means
Because they are taught not too have any
They are told to have a well diversified portfolio. That takes no conviction
Having 100% of your wealth in bitcoin takes a ton of conviction and most people will never do the work to build conviction
That's a tricky one, nothing like skin in the game to lead to biased opinions.
That’s the normie point of view, but I think it’s the opposite. My opinions are more biased the less skin I have in the game.
Really, as far as I'm concerned, roughly speaking, no one ever knows what they're talking about, some people are simpler sometimes less mistaken. Also, I tend to find that the most humble person is generally least mistaken, if for no other reason, because they make the fewest claims.
When people choose not to have kids they have no vested interest in the future of humanity……or no skin in the game.
Yep. Very hard to take them seriously.
People with skin in the game and real experience usually keep their opinions and advice to themselves. It is often those without skin in the game who are the quickest to share their opinion and give advice.
Money in the table first!
Exactly. They have no perspective.