Quit

The Power of Knowing When to Walk Away

by Annie Duke

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Pub Date Oct 04 2022 | Archive Date Oct 31 2022

PENGUIN GROUP Portfolio | Portfolio

Business, Leadership, Finance

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Description

From the bestselling author of Thinking in Bets comes a toolkit for mastering the skill of quitting to achieve greater success

Business leaders, with millions of dollars down the drain, struggle to abandon a new app or product that just isn’t working. Governments, caught in a hopeless conflict, believe that the next tactic will finally be the one that wins the war. And in our own lives, we persist in relationships or careers that no longer serve us. Why? According to Annie Duke, in the face of tough decisions, we’re terrible quitters. And that is significantly holding us back.

In Quit, Duke teaches you how to get good at quitting. Drawing on stories from elite athletes like Mount Everest climbers, founders of leading companies like Stewart Butterfield, the CEO of Slack, and top entertainers like Dave Chappelle, Duke explains why quitting is integral to success, as well as strategies for determining when to hold em, and when to fold em, that will save you time, energy, and money. You’ll 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

Whether you’re facing a make-or-break business decision or life-altering personal choice, mastering the skill of quitting will help you make the best next move.

Advance Praise

“This brilliant and entertaining book documents a major flaw in human actions and decisions: the bias against quitting. I learned a lot from its compelling tales of failures and sound recommendations. You will too.”

—Daniel Kahneman, Nobel Prize winner in economics and #1 New York Times bestselling author of Thinking, Fast and Slow

“Quit is the rare book that is both a page-turner and a legitimately important contribution. If you’ve never thought of quitting as a competitive advantage before, prepare to be enlightened.”

—David Epstein, bestselling author of Range

“Engrossing, important, and grounded in science, Quit is a gem that will allow you to navigate the world more effectively.”

—Katy Milkman, bestselling author of How to Change

“A game-changing book of strategy from a world-class thinker on risk and decision-making.”

—Shane Parrish, host of The Knowledge Project podcast

“Only a poker player could write this classic book on when—and more importantly how—to fold a bad hand in business, investing, relationships and life.”

—Ryan Holiday, #1 New York Times bestselling author of Stillness Is the Key

“The opposite of a great virtue is also a virtue. And Quit is the perfect dialectical complement to Grit. Weave these two virtues into your character and live a much more fulfilling life.”

—Philip Tetlock, bestselling author of Superforecasting

“Every business school has a course in starting new businesses, but few have a course in shutting them down at the right time. This book fills that gap with brilliant new insights and fantastic stories. Quit what you are doing right now and start reading this book."

—Richard Thaler, Nobel Prize winner in economics and bestselling coauthor of Nudge

"Quitting is not just an art; it's also a science – and there is no one so uniquely suited to teach us both as Annie Duke."

—Brian Christian, coauthor of Algorithms to Live By

“Not since Kenny Rogers has an expert storyteller so clearly demonstrated the importance of knowing when to hold ‘em and when to fold ‘em, nor presented a clearer strategy to determine when, instead of merely walking away, it’s time to run.”

—David McRaney, author of How Minds Change

“You won't want to quit reading this book, both because it is such a rewarding read and also because its lessons are so important, useful, and memorable.”

—Don A. Moore, author of Perfectly Confident

“This brilliant and entertaining book documents a major flaw in human actions and decisions: the bias against quitting. I learned a lot from its compelling tales of failures and sound...