When should you quit? [Annie Duke]

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Mar 20, 2025

Annie Duke, an author and decision strategist, shares her unique insights from the world of poker to the nuances of decision-making. She discusses how identity can hold us back from making necessary career changes and the psychological traps, like loss aversion, that complicate quitting a job. Duke emphasizes that decisions can often be reversible, encouraging listeners to think about what they could reclaim if they walked away from unfulfilling roles. She also tackles biases and introduces the idea of evaluating opportunity costs for greater fulfillment in life.

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INSIGHT

Omission Bias and Loss Aversion

People avoid decisions to avoid potential blame for bad outcomes.
Not making a decision is a decision; omissions have consequences like commissions.

ADVICE

Assess Happiness Probability

Ask yourself: "In a year, if I stay/quit my job, what's the probability I'll be happy?"
Set deadlines and define criteria for happiness in your current/future role.

ADVICE

Define Kill Criteria

Write down the conditions for leaving a job/investment (kill criteria).
Pre-commit to actions based on those criteria to avoid escalation of commitment.

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