Five takeaways:
- Opening with the phenomenon of marathon runners who finish races on broken legs (which turns out to be more common than you might think), this article is about knowing when to quit!
- Duke argues that there is a downside to grit. While it can get you to stick to hard and worthwhile pursuits, it can also push you into harmful wastes of time.
- One force that keeps us holding on to harmful things for too long is the famous “sunk cost fallacy” – the cognitive error in which people think that the time, money, and effort they’ve invested on a pursuit means they should continue at it.
- People often fall victim to “status quo bias” – when considering making a change, a person is likely to stick with the current situation, because the new option represents an unknown. “We prefer the devil we know,” as the old adage goes.
- We fear that when we quit we are admitting failure. But we need to start looking at the waste of time and resources as a forward-looking problem, not a backward-looking one.
From Annie Duke at The Atlantic:
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