People who have a risk of doing something generally perform righteously achievement. Having skin in the game challenges people to cherish the value of taking decisions. Furthermore, understanding uncertainty and randomness will affect the final decision or acknowledge the result.
Living in the educational field, teachers and students should have skin in the game since it will affect the teaching and learning activity. For the teacher, Having skin in the game makes teachers highly invest in their capability as they will go south if they do not. Therefore, it improves skill, knowledge, and understanding of how to be a teacher even alchemize education. Moreover, they are willing to take a risk and enjoy the uncertainty. When you enjoy the jackpot, you must also experience some of the risks. Imagine when the teachers are so passionate about education and teaching, what would they create? They will spawn fantastic teaching and bear the students wisely. Teachers with skin in the game are highly distinguished from those who do not. Those who do not want to take an elevated risk in their job, are not supposed to enjoy the tea at the end of the road.
Furthermore, having students possess skin in the game will set them to understand the reason behind school and learning. Students who do not have skin in the game do not feel like they are responsible for their future and have a tendency to be lazyish. In addition, embedding skin in the game mindset in the students will influence their mindset and have a sense of obligation to learn, do the homework, and improve their skills which we see rarely befall to students.
The asymmetric, lack of skin in the game, tarnish education itself. How could people who live in the educational field do not have a sense of risk, uncertainty, and commitment in a field that is responsible to deliver knowledge and wisdom?. Moreover, the hidden asymmetric in education should be banished. Those who do the talk should be placed more in the educational field.
"In academia, there is no difference between academia and the real world; in the real world, there is." - Nassim Nicholas Taleb
In conclusion, skin in the game is the key to unlocking the hidden potential of teachers and students. It forces them to know themselves and have some risks in the field of being fooled by randomness. Furthermore, it establishes asymmetric in education. Skin in the game also separates people who do not want to invest and take a risk in their job from those who do. It will be easier to do something when everyone around us is accepting and enjoying the skin in the game.