We live in a culture that glamorizes grit and derides giving up. But in the world of climate startups, we can’t afford to spend time on projects that aren’t working.
So, how do you know when to quit?
Decision Strategist Annie Duke is a retired professional poker player and World Series of Poker bracelet holder. She is also the author of several books, including Quit: The Power of Knowing When to Walk Away.
On this episode of Reversing Climate Change, Annie joins Ross to explain how to apply decision-making skills from poker and her research in the context of a climate startup.
Annie walks us through her three strategies for deciding when to fold, challenging us to set explicit kill criteria and leverage the ‘monkeys and pedestals’ mental model to abandon projects that aren’t working.
Listen in for Annie’s insight on prioritizing moonshots that develop useful technology and learn how to persevere when projects are worthwhile—and walk away when they’re not.
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Resources
Quit: The Power of Knowing When to Walk Away by Annie Duke
How to Decide: Simple Tools for Making Better Choices by Annie Duke
Thinking in Bets: Making Smarter Decisions When You Don’t Have All the Facts by Annie Duke
Superforecasting: The Art and Science of Prediction by Philip E. Tetlock and Dan Gardner
Grit: The Power of Passion and Perseverance by Angela Duckworth
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