#81: Professional decision-maker, Annie Duke, joins Chris to talk about making better decisions. They discuss why learning the difference between luck and the quality of decisions is so important and how that can improve your life and your career, ways to improve your quitting skills, and what forces work against good quitting behavior. They also cover why so many people struggle with the decision to walk away, how to use kill criteria to determine when to quit a project, a job, or some other endeavor, and a lot more.
Annie Duke (@AnnieDuke)) is a best-selling author and professional decision strategist. Her 2018 bestseller, Thinking in Bets), has helped countless people make better decisions, and her latest book is Quit: The Power of Knowing When to Walk Away).
Full show notes at: https://allthehacks.com/decision-making-annie-duke)
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Resources Mentioned
Connect with Annie Duke: Website) | Twitter)
Annie Duke’s Resources:
All the Hacks Podcast: FOMO, FOBO and How To Make Great Decisions with Patrick McGinnis)
Resources Mentioned:
Astro Teller on Moonshots for Alphabet's X) (Monkeys and pedestals 25:08)
Full Show Notes
(1:20) Luck vs. Decision Quality: Learning the Difference
(5:44) Improving Hiring Decisions and Positive Outcomes
(9:11) Understanding and Calculating Base Rate
(13:29) Enhancing Decision Information with Independent Viewpoints
(21:08) Encouraging Honest Opinions and Feedback
(28:00) Shifting Mindset from Sunk Cost Fallacy
(30:12) Advanced Planning, Kill Criteria, Stop-Loss Orders
(32:02) Example of Kill Criteria
(33:24) Finding a Qualified Quitting Coach
(41:49) Viewing Life as Bets and Making Things Explicit
(47:35) Side-Effects of Explicit Decision-Making
(51:41) Handling Emotional Angst in Decisions
(54:41) Menu Decision Strategy
(58:31) The Challenge of Quitting Decisions
(1:04:55) Astro Teller's Mental Model: Monkeys and Pedestals
(1:07:01) Identifying Known Unknowns
(1:07:57) Connect with Annie Duke Online
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