Decisions

Quit: 6 key ideas

by Annie Duke

The core ideas of Quit, each in under a minute, written in our own words. Want the full depth? Get the book.

1. IDEA 1 OF 6

   Quitting is a skill

   Sticking with a losing path wastes time and money.

   Quitting at the right moment frees resources for better opportunities.

2. IDEA 2 OF 6

   Beware sunk costs

   Past investment shouldn't drive future decisions.

   Ask whether you'd start this today knowing what you know.

3. IDEA 3 OF 6

   Set kill criteria

   Decide in advance what signals will make you stop.

   It counters the tendency to rationalise.

4. IDEA 4 OF 6

   Compare expected value

   Weigh the expected value of continuing against switching, not against doing nothing.

5. IDEA 5 OF 6

   Endowment effect

   We overvalue what we already own, including projects and beliefs.

   Recognise the bias.

6. IDEA 6 OF 6

   Get a quitting coach

   A trusted person can see when you should quit and tell you honestly.