Quit: The Power of Knowing When to Walk Away @ Annie Duke

Rating: In progress

That is the funny thing about grit. While grit can get you to stick to hard things that are worthwhile, grit can also get you to stick to hard things that are no longer worthwhile. The trick is figuring out the difference.

By definition, anybody who has succeeded at something has stuck with it. That is true in hindsight. But the inverse is not true: sticking to something does not guarantee success.

Success is not in sticking to everything. It is in choosing the right thing to stick to and quitting the rest.

In a world where perseverance is often treated as the road to honor and success, grit is the hero and quitting is framed as failure. But having the option to quit is what allows you to walk away when what you are doing is broken.

If the weather changes near the top of Everest, you turn around. If a fight doctor says your kidneys are damaged, you retire. The same idea applies to a major, a job, a career direction, a relationship, piano lessons, or even a movie you are watching.

As Kenny Rogers sang in The Gambler, you need to know when to hold, fold, walk away, and run. Three of those four are forms of quitting. Playing every hand is the fastest way to go broke.

The Tiny Speck story is a strong reminder. Even if Stewart Butterfield had never pursued Slack and had only returned capital to investors, that still would have been a good outcome. Slack just made it better.

Another management consulting heuristic says the right time to fire someone is the first time it crosses your mind.