The Influence of Luck in Decision Making

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In poker and chess, there's not really a strong influence of luck. The more that I know about my opponent, the better my information is going to be about them. But in terms of the pieces themselves, I can't see my opponent's card. So you have all the same things in chess about like, I don't necessarily know what your favorite openings are or how you value your hands.

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.

To know more about this initiative, check out:

https://www.vishalkhandelwal.com/

https://www.safalniveshak.com/

To know more about my book - The Sketchbook of Wisdom - which Morgan Housel calls "a masterpiece," please visit - https://book.safalniveshak.com