757: Annie Duke | The Power of Knowing When to Quit
The Jordan Harbinger Show
00:00
The Costs of Staying in a Relationship
Poker showcases the importance of loss cutting. Pros fold 75-80% of starting hands, unlike amateurs who fold less than 50%. Amateurs make sunk cost errors, thinking about past investments instead of future potential. They fixate on 'what ifs' and potential wins, even with low probability hands. This translates to other areas: relationships, jobs, and projects, where fear of 'what if I could have turned it around?' prevents quitting, even when the future looks bleak. Focus on whether the next investment (time, money, effort) will yield a positive return, not on protecting past investments.
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