Why We Need To Quit More in Politics, Work, and Life
Poker player Annie Duke says grit is overrated and walking away from bad choices is an underappreciated virtue.
HD DownloadQuitting is massively underrated, says Annie Duke, an author, doctor of psychology, and former professional poker player who holds a bracelet from the 2004 World Series of Poker.
Her latest book is Quit: The Power of Knowing When To Walk Away. Using examples ranging from Muhammad Ali's refusal to retire from boxing earlier in his career to the over-budget, much-delayed California high-speed rail project to catastrophic American wars in Vietnam, Afghanistan, and Iraq, she makes the case that blind commitment to grit and stick-to-it-iveness routinely leads us down the wrong path is our careers, politics, and personal lives.
She talks about misleading mental tics like the sunk-cost fallacy, the cult of identity, and the endowment effect, and how to understand and reverse them in our personal lives, our work, and our politics. She earned her Ph.D. in cognitive psychology from the University of Pennsylvania, getting her degree in 2023 after taking a 30-year break from academia. We talk about how her experience of knowing when to quit in poker—and higher education—informed her high regard for knowing when to head for the exits.
(To see a Reason interview about Duke's previous book Thinking in Bets, go here).
- Camera: Jim Epstein
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You gotta know when to fold 'em . . . . . .
Beat me to it damnit.
Yeah, the comment "knowing when to quit in poker" was a grammar error when the author should have said "fold" or "walk away from the hand". Though she did quit playing professionally, IMHO it was because overall players were and are playing better and the winnings/hour weren't worth her time anymore.
Me: The sunk-cost phallusy is one of my favorite phalluses.
SNL Host: that's "fallacy" not "phallus."
Me: Oh, well then ... never mind!
Does that have to do with the knowing when to hold 'em, throw 'em and when to run?
Iirc, her dad used to write for the MENSA magazine.
I recently read, to my astonishment, that early in his troop build-up in Viet Nam, Preisdent Johnson was complaining to (of all people) Mayor Daley of Chicago that he couldn't see a path to victory. Daley told LBJ something like "Mr. President, when you have a really bad hand in poker, the only thing to do is throw your cards down and walk away from the table."
Have you read this article?
https://www.usni.org/magazines/proceedings/1996/may/day-it-became-longest-war
I wish there was a way to verify if these allegations were true.
Great! So does this mean you're ready to quit pretending that you're a libertarian and finally take that full time job working for George Soros and/or the Democratic National Committee, Woppo?
Her latest book is Quit: The Power of Knowing When To Walk Away.
But what if you're too legit to quit?
At least throw away your old parachute pants.
From my cold, dead hands.
"When surely the probability of hating the new relationship is much less than the probability of hating the one you're in, which is 100%"
I would like to introduce Ms. Duke to Seattle Politics and its long, long string of one-term mayors, each one successively worse than the previous one was.
fyi, the 'sunk cost fallacy' becomes much more difficult to identify in binary yes/no terms as a 'fallacy' when the circumstances and costs are scaled up significantly.
Huh, they're talking about "escalation of commitment" and referring to VietNam. I'm wondering if there's a current day, happening-right-now escalation of commitment that's going on in front of our eyes.
The Right quit on pop culture and academia.
It did not end up well.
The right would have had to have a grip on both culture and popularity to have given up on them. As is with no grip on either they had nothing to quit.
Well in fairness, way back in the day, the culture was way more conservative, think 1950's.
I don't watch the majority of those adult targeted cartoons. Their humor is a bit too left leaning and repetitive so not my cup of tea.
Having said that there is a joke in a Family Guy episode where the family is in a "50s Style Diner" and the token black charachter walks in. Suddenly a dozen cops with a firehouse appear from nowhere and use the water to blast the black guy out of the diner.
I can't think about the 1950s without remembering that bit.
Don't forget PBS, NPR, The Modern Language Associatio & the MacArthur Foundation.
Well, sure, quitting is practically what poker is all about.
Joan Rivers was right about Annie Duke.
Fascinating article on Annie Duke and her book on the importance of knowing when to quit. This is particularly relevant for "poker game developers",
https://www.slavnastudio.com/poker-game-development-company
who need to be adept at assessing risks and making tough decisions, much like Duke did in her poker career. In game development, as in poker, knowing when to push forward and when to pull back and reassess your strategy is crucial. These lessons can be applied both in life and in game creation, making the process not only more effective but also less stressful.