When it's in the battle between grit and quit, grit is a virtue and quit is a vice. Whether to stick or whether to quit is actually the exact same decision. The sunk cost fallacy: What you've already put into something should not affect the decision about whether you ought to continue. Fear of waste: Every minute that you spend in a relationship that you wouldn't start today because you'll have wasted all your time.
#424: We’re taught to stay in the game.
Persist. Be gritty. Try, try again.
But sometimes, the best decision is to walk away. Move on.
How do you know when that’s right? When should you double-down … and when should you fold?
Today’s guest, Annie Duke, won more than $4 million as a professional poker champion. She wrote the bestselling book Thinking in Bets and co-founded a nonprofit that teaches kids decision-making skills.
Her most recent book, “Quit: The Power of Knowing When To Walk Away,” teaches the behavioral science, mental models and recognition of cognitive biases needed to successfully quit.
It highlights real-world examples of startup founders, athletes, mountaineers, and entertainers who either quit – or didn’t – and explains how to make a wise, grounded choice.
She joins us on today’s episode to describe the forces that hold us back from quitting – and how to recognize when quitting could lead to a better life.
For more information, visit the show notes at https://affordanything.com/episode424
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