updated 23d ago
Quit: The Power of Knowing When to Walk Away
You can’t trick yourself into not taking sunk costs into account by trying to view the situation as a new choice. Asking whether or not you would continue if the decision were a fresh one doesn’t mitigate the sunk cost effect the way you might intuitively think it would.
from Quit: The Power of Knowing When to Walk Away by Annie Duke
Matthew Carey added 2mo ago
we’re all in a cult of our own identity.
from Quit: The Power of Knowing When to Walk Away by Annie Duke
Matthew Carey added 2mo ago
We all need someone who loves us but who also understands that it’s better for our long-term happiness to speak out loud the unpleasant truth when the path we are on is one we need to abandon.
from Quit: The Power of Knowing When to Walk Away by Annie Duke
Matthew Carey added 2mo ago
incredible work in applied behavioral economics that was happening in the government, specifically using the power of defaults to encourage positive behavior. These defaults are known as nudges, made famous in the bestseller Nudge, by Richard Thaler and Cass Sunstein.
from Quit: The Power of Knowing When to Walk Away by Annie Duke
Matthew Carey added 2mo ago
the world is stochastic. That’s just a fancy way of saying that luck makes it difficult to predict exactly how things will turn out, at least not in the short run. We operate not with certainties but with probabilities,
from Quit: The Power of Knowing When to Walk Away by Annie Duke
Matthew Carey added 2mo ago
The lesson here is that we shouldn’t wait to be forced to find a Plan B. We should always be doing some exploration, especially because sometimes Plan B can turn out to be better than the thing you’re already pursuing.
from Quit: The Power of Knowing When to Walk Away by Annie Duke
Matthew Carey added 2mo ago
When it comes to quitting, the most painful thing to quit is who you are.
from Quit: The Power of Knowing When to Walk Away by Annie Duke
Matthew Carey added 2mo ago
Quitting means failing, capitulating, losing. Quitting shows a lack of character. Quitters are losers (except, of course, when it involves giving up something obviously bad like smoking, alcohol, drugs, or an abusive relationship).
from Quit: The Power of Knowing When to Walk Away by Annie Duke
Matthew Carey added 2mo ago
Monkeys and pedestals boils down to some very good advice: Figure out the hard thing first. Try to solve that as quickly as possible. Beware of false progress.
from Quit: The Power of Knowing When to Walk Away by Annie Duke
Matthew Carey added 2mo ago