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Skin in the game means that you do not pay attention to what people say, only to what they do, and how much of their neck they are putting on the line.
Citizens, artisans, police, fishermen, political activists and entrepreneurs all have skin in the game. Policy wonks, corporate executives, many academics, bankers and most journalists don't. It's all about having something to lose and sharing risks with others.
Taleb draws on everything from Antaeus the Giant to Hammurabi to Donald Trump, from ethics to used car salesmen, to create a jaw-dropping framework for understanding this idea. Among his insights:
For social justice, focus on symmetry and risk sharing.
Minorities, not majorities, run the world.
You can be an intellectual yet still be an idiot.
Beware of complicated solutions (that someone was paid to find).