The Power of Knowing When to Quit with Former Poker Player Annie Duke • 273
Mind Love™ • Consciousness, Spirituality, and Science for Awakening
Melissa Monte | Conscious Coach
4.9 • 906 Ratings
🗓️ 20 December 2022
⏱️ 61 minutes
🧾️ Download transcript
Summary
We will learn:
- How the paradox of quitting influences decision-making: If you quit on time, you will feel you quit early
- What forces work against good quitting behavior, such as escalation commitment, desire for certainty, and status quo bias
- How to think in expected value in order to make better decisions, as well as other best practices, such as increasing flexibility in goal-setting, establishing “quitting contracts,” anticipating optionality, and conducting premortems and backcasts
What if I told you that quitting is actually integral to your success?
There’s a difference between quitting and giving up. Quitting is strategic. It’s knowing when to walk away from something that isn’t working. It’s knowing when to move on to something better.
That’s what we’re talking about today.
Our guest is Annie Duke. For two decades, Annie was one of the top poker players in the world. Her expertise in the science of smart decision-making has helped her excel in everything from championship poker to public speaking. She’s also a master storyteller, having performed three times for the Moth, an organization that preserves the art of spoken word storytelling. She will share with us what she’s learned through her academic studies in cognitive psychology combined with real-life decision-making experiences at the poker table.
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Transcript
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| 0:00.0 | Welcome to Mind Love, episode |
| 0:02.0 | episode is all about the power of knowing when to quit. |
| 0:07.0 | We just don't like to quit things until we know there is no other choice. |
| 0:11.0 | But the problem with that is that it's a question of what's the quality of life? |
| 0:16.3 | Is this really worth considering and thinking about if somebody, if you were looking at somebody else who was in that |
| 0:21.8 | position, what would you be |
| 0:24.0 | counseling them to do? The problem for us is that when we're in the decision, when it's |
| 0:29.6 | our decision, it's very hard for us to see it that way. |
| 0:33.6 | And what we think about instead is, but what if, |
| 0:36.6 | what if I didn't need to do that yet? |
| 0:38.7 | We want to butt up against that certainty. |
| 0:40.9 | So in some ways you would have more peace of mind if you kept going until your dog was actually having seizures because then you would know. |
| 0:50.0 | The problem is that that's too late. That's stopping too late. |
| 0:53.6 | Turn up your frequency with mind love. |
| 0:59.2 | Bight-sized brain hacks for seekers, dreamers, and doers. It's time to give your mind a little love |
| 1:05.8 | with your host, Melissa Monti. If this is your first time giving your mind a little love, don't forget to hit the |
| 1:19.5 | subscribe button. Mind love is a habit and the more you give your mind that love and |
| 1:24.2 | intention, the better you'll feel about yourself and your life. Plus it's |
| 1:28.5 | really a win-win because more subscribers means mind love attracts even more amazing guests to bring you |
| 1:34.3 | their wisdom so don't forget to subscribe. We've all heard it before a quitter |
| 1:39.9 | never wins and a winner never quits and sure there's some truth in that. A lot of people give up on their |
| 1:46.7 | dreams way too early, or they don't start at all. But is it always true? What if I told you that quitting is actually one of the biggest keys to success? |
... |
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