29. How Do You Know When It’s Time to Quit?

No Stupid Questions

Freakonomics Radio + Stitcher

Society & Culture

4.6 • 3.6K Ratings

🗓️ 29 November 2020

⏱️ 32 minutes

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Summary

Also: why is it so hard to predict success?

Transcript

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0:00.0	Why am I doing this?
0:01.3	Hey!
0:02.2	I'm Angela Duckworth.
0:03.3	I'm Stephen Dubner.
0:04.3	And you're listening to no stupid questions.
0:07.8	Today on the show, how do you know when it's time to quit?
0:10.8	I love to gamble.
0:12.1	I've lost $100,000 dollars last week.
0:15.0	Also, why is it so hard to predict success?
0:18.6	I'm sorry to say this, but your little boy is doomed.
0:21.8	He ate the marshmallow and he's gonna be an idiot.
0:24.1	Angela Duckworth, my question today could be summarized as grit versus quit.
0:33.3	Grit.
0:34.3	What's up?
0:35.3	That's the answer.
0:36.3	All right.
0:37.3	Never mind then.
0:38.6	Let me explain though.
0:40.4	So if you believe even a little bit in the sunk cost fallacy, the idea that it's bad
0:46.3	to throw good money after bad or good time or any other resource after bad, then you
0:52.7	also have to believe it's a good idea to quit things more often than a lot of people
0:56.3	are willing to quit.
	...

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