We often admire those people who don't quit because they quote persevered when in fact it was irrational or immoral. Fred Smith started FedEx and he ran out of money but instead went to Reno, put all that he had on the board of departures,. I think he'd taken money from his sisters. The opposite of a great virtue is also a great virtue. People have to learn how to say yes.
Annie Duke is angry that quitting gets such a bad rap. Instead of our relentless focus on grit and "going for it," the former professional poker player, decision strategist, and author of Quit wants us to recognize the costs associated with sticking to a losing outcome. Listen as she explains to EconTalk host Russ Roberts how society's conflation of grit with character has made quitting unnecessarily hard, and why our desire for certainty harms our decision-making ability. Additional topics include the flawed mental accounting that makes us confuse wins for losses, what we can learn from ants, and the tragic story of how the refusal to quit cost 16 lives one terrible night at the top of Mt. Everest.