HBR IdeaCast Grit Is Good. But Quitting Can Be, Too.
65 snips
Nov 8, 2022 
Annie Duke, a former professional poker player and author of "Quit: The Power of Knowing When to Walk Away," challenges the glorification of grit in society. She discusses the biases that keep us stuck, like the sunk cost fallacy, and emphasizes the value of knowing when to quit. Duke offers insights into decision-making, advocating for probabilistic thinking over instinct. Additionally, she explores examples where recalibrating paths is crucial, promoting a mindset shift towards embracing new opportunities and quitting strategically.
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Stigma of Quitting
- Quitting is deeply stigmatized in our minds and language.
- We glorify grit and perseverance, while "quitters" are labeled as losers or cowards.
Biases Affecting Quitting
- Sunk cost fallacy makes us overvalue past investments, hindering our ability to quit unprofitable projects or jobs.
- Loss aversion makes us fear potential losses from new endeavors, stopping us from quitting the current ones.
Opportunity Cost Neglect
- Consider the opportunity costs of sticking with underperformers.
- Evaluate if not filling the role at all would be better than keeping them.
