AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Annie Duke's transition from studying linguistics to becoming a professional poker player highlights the unexpected turns life can take. Initially researching syntactic bootstrapping, a theory on language learning, Annie found herself in the world of poker due to health issues and financial needs, eventually turning it into a successful career.
Eric Seidel's mentoring role in Annie's poker journey emphasized the importance of accuracy over being right. Through their interactions, Annie learned to focus on constructing mental models based on decision-making rather than personal validation.
Annie highlights the significance of group dynamics in enhancing learning and decision-making processes. Being part of a supportive and critical group like the one she had in poker helped individuals overcome biases, encourage accurate thinking, and foster continual improvement.
In poker, the visibility of outcomes through chip exchanges intensifies emotional responses affecting decision-making. Annie explains how emotional reactions to recent outcomes can overshadow rational decision-making processes. This emotional rollercoaster in poker, akin to a stock ticker, highlights the challenge of separating emotions from decisions for optimal performance.
Acknowledging uncertainty in decision making is crucial as it allows for a more open-minded approach to exploring different possibilities. By expressing uncertainty, individuals can create more believable and thoughtful communication, encouraging others to share their opinions and ideas without fear of judgment. Embracing uncertainty enables a deeper exploration of diverse perspectives and enhances the overall decision-making process, fostering a culture of thoughtful consideration and collaboration.
Engaging in group decision-making processes and seeking support from like-minded individuals or peers can significantly enhance the quality of decisions made. Collaborating with others who share a common goal of improving decision-making skills can provide valuable insights, different perspectives, and accountability, leading to more thoughtful and well-rounded outcomes. Creating a supportive group environment fosters a culture of shared learning and growth, where individuals can challenge each other's beliefs and work together towards making more informed decisions.
Incorporating future perspectives into present decision-making processes can lead to more strategic and impactful choices. By considering the long-term implications of decisions and involving different versions of oneself in the decision-making journey, individuals can develop a deeper understanding of potential outcomes and make more informed choices. Cultivating a mindset that values future consequences and embraces temporary discomfort for long-term benefits can foster a more thoughtful and forward-thinking approach to decision-making.
The morality of gambling is viewed through the lens of personal values and individual perspectives. While some may have moral objections to gambling, others see it as a voluntary and commercial activity, akin to other market interactions. Personal values and beliefs play a significant role in determining one's stance on gambling, emphasizing the importance of making choices aligned with one's moral compass and respecting diverse opinions on the matter.
In reflecting on past experiences and personal growth, embracing uncertainty and trusting the decision-making process emerge as key lessons to impart to one's younger self. Encouraging a mindset that values open-mindedness, collaboration, and thoughtful consideration can help navigate life's challenges and foster continuous growth and development. Embracing uncertainty and trusting in the journey of self-discovery and learning can lead to more resilient decision-making and a deeper understanding of oneself and others.
I have wanted to do this interview for a long time. On this episode, I am thrilled to have Annie Duke, former professional poker player and author of the new book, Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts.
Annie has a very interesting background that makes her uniquely qualified to speak about high-level decision making. As an author, speaker, world-class poker player, and academic in the fields of psychology and cognitive theory, Annie understands the intersection of luck, skill, and making decisions in uncertain, chaotic environments better than most people on the planet.
This is a whirlwind of an episode, and we cover all kinds of fascinating topics, including:
And so much more.
This episode is just under two hours long, but there’s no fat in it. Annie delivers a masterclass in making the smartest decisions we can, even when our hubris insists otherwise. Do some finger stretches before hitting play, because you’re going to be taking some serious notes.
Please enjoy the interview!
***
Go Premium: Members get early access, ad-free episodes, hand-edited transcripts, searchable transcripts, member-only episodes, and more. Sign up at: https://fs.blog/membership/
Every Sunday our newsletter shares timeless insights and ideas that you can use at work and home. Add it to your inbox: https://fs.blog/newsletter/
Follow Shane on Twitter at: https://twitter.com/ShaneAParrish
Listen to all your favourite podcasts with AI-powered features
Listen to the best highlights from the podcasts you love and dive into the full episode
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
Listen to all your favourite podcasts with AI-powered features
Listen to the best highlights from the podcasts you love and dive into the full episode