Venture capital is all about pattern matching, right? Like I just see a good founder and I know it. But what really doesn't make sense is that you invest and then it's 10 years until you have the outcome. And so if we take venture, for example, like let's say that you invest at series B, well, series C is going to come around at some point. It's a necessary step in order to get to the exit. So that's going to happen relatively quickly. There's no reason that you shouldn't be able to close that loop really fast."
Annie Duke is author, corporate speaker, and consultant in the decision-making space. For two decades, Annie was one of the top poker players in the world. In 2004, she bested a field of 234 players to win her first World Series of Poker bracelet. The same year, she triumphed in the $2 million winner-take-all, invitation-only World Series of Poker Tournament of Champions. She retired from the game in 2012. Annie is author of multiple wonderful books, including Thinking in Bets, How We Decide, and her latest being Quit: The Power of Knowing When to Walk Away.
In this episode, Annie talks about why life is like poker and not chess, how to make sound decisions, the power of quitting, and much more.
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