Name: Quit
Rating: 4.2 (4898 reviews)
Author: Annie Duke

"Quitting is not the same as failing. It’s a skill that can save you time, money, and even your life." – Annie Duke

1. Quitting is a strength, not a weakness

Our culture often glorifies perseverance and views quitting as a failure. But Annie Duke argues that quitting is a smart and necessary decision when circumstances change. It’s not about giving up; it’s about redirecting your energy toward something more worthwhile.

Duke uses poker as a metaphor to explain this. Professional poker players fold more than half the time because they know when a hand isn’t worth pursuing. Amateurs, on the other hand, often hold on too long, hoping for a miracle, and end up losing more money. The lesson? Knowing when to quit is a skill that separates winners from losers.

Mountain climbing offers another example. Climbers who turn back before reaching the summit of Mount Everest often save their lives. They assess the risks and decide that the cost of continuing is too high. This decision doesn’t make them failures; it makes them wise.

Examples

Professional poker players fold more than 50% of the time to avoid bigger losses.
Climbers who turn back on Mount Everest often survive dangerous conditions.
Entrepreneurs who pivot from failing ideas often find success in new ventures.

2. We often stick with losing efforts for too long

Humans have a tendency to hold on to failing projects, relationships, or goals because we’ve already invested time, money, or energy. This is known as the sunk cost fallacy, and it can trap us in bad situations.

Stewart Butterfield, the founder of Slack, provides a great example. He initially set out to create an online game called “Glitch.” Despite positive reviews, he realized the business model wasn’t sustainable. Instead of doubling down, he quit and redirected his resources into Slack, which became a $27.7 billion company.

The sunk cost fallacy makes us believe that quitting wastes our past efforts. But in reality, sticking with a bad situation often costs us even more. By quitting, we free ourselves to pursue better opportunities.

Examples

Stewart Butterfield quit his failing game project to create Slack.
People often stay in unhappy relationships because they’ve invested years in them.
Companies continue funding unprofitable projects to avoid admitting failure.

3. Sunk cost fallacy clouds our judgment

The sunk cost fallacy tricks us into thinking that past investments should dictate future decisions. This mindset can lead to poor choices, like staying in a bad job or finishing a degree in a field you dislike.

Imagine buying a ticket to an outdoor concert, only to find out it’s going to rain. If the ticket was free, you’d probably skip the event. But if you paid for it, you might feel compelled to go, even though you’ll be miserable. The money is already spent, so it shouldn’t influence your decision—but it does.

This fallacy also affects large-scale decisions. For example, during the Vietnam War, U.S. leaders escalated their commitment despite clear evidence that the war was unwinnable. They couldn’t admit their mistake, and the result was devastating.

Examples

People attend events they don’t enjoy because they’ve already paid for tickets.
Students finish degrees in fields they dislike to avoid “wasting” tuition money.
The U.S. escalated the Vietnam War despite mounting costs and losses.

4. Identity can make quitting harder

Our sense of identity often ties us to our goals, making it difficult to quit even when it’s the right choice. When quitting feels like betraying who we are, we resist it.

Sears is a cautionary tale. The company clung to its identity as a retail giant, even as the market shifted. Instead of focusing on its successful financial services division, Sears sold those assets to prop up its failing retail business. The result? Bankruptcy.

Contrast this with Philips, which started as a light bulb company but shifted its focus to healthcare when the market changed. By letting go of its original identity, Philips thrived. This shows that adapting your identity can lead to better outcomes.

Examples

Sears clung to its retail identity and went bankrupt.
Philips shifted from light bulbs to healthcare and achieved success.
Athletes often struggle to retire because their identity is tied to their sport.

5. Escalation of commitment traps us

Once we commit to a decision, we often double down on it, even when it’s not working. This is called escalation of commitment, and it can lead to disastrous outcomes.

The Vietnam War is a prime example. Despite clear signs that the war was unwinnable, U.S. leaders continued to escalate their involvement. They couldn’t admit they were wrong, and the cost was enormous in terms of lives, money, and political fallout.

This tendency isn’t limited to governments. Businesses and individuals also fall into this trap. Recognizing when to cut your losses is essential to avoid escalating bad decisions.

Examples

The U.S. escalated the Vietnam War despite clear signs of failure.
Companies continue funding unprofitable projects to avoid admitting mistakes.
People stay in toxic relationships because they’ve already invested so much.

6. Kill criteria can help you quit smarter

One way to overcome the barriers to quitting is by setting “kill criteria.” These are measurable benchmarks that tell you when it’s time to stop. If you don’t meet these criteria, you quit.

Eric “Astro” Teller, who leads Alphabet’s X division, uses this approach. His team sets clear criteria for their projects. If they can’t solve the main challenge within a set timeframe, they abandon the project and move on to something else.

Kill criteria help you avoid the sunk cost fallacy and escalation of commitment. They provide a clear, objective way to decide when to quit.

Examples

Alphabet’s X division sets kill criteria for all its projects.
Entrepreneurs use kill criteria to decide when to pivot or shut down a business.
Athletes set performance benchmarks to determine when to retire.

Goals are useful for motivation, but they can also trap us. The “finish line mentality” makes us focus solely on completing a goal, even when it’s no longer worth pursuing.

Marathon runners who finish races with broken bones illustrate this problem. They push through excruciating pain to reach the finish line, ignoring the long-term damage they’re causing to their bodies.

To avoid this, Duke suggests creating “unless” clauses for your goals. For example, “I’ll pursue this goal unless it starts harming my health or happiness.” This approach keeps your goals flexible and realistic.

Examples

Marathon runners finish races with broken bones, worsening their injuries.
Climbers risk their lives to reach the summit of Everest.
Students stick with degrees they hate to avoid “failing” their goal.

8. Premortems can prevent failure

A premortem is a thought exercise where you imagine your project has failed and work backward to identify the reasons why. This helps you spot potential problems and set realistic expectations.

For example, if you’re starting a business, a premortem might reveal that your target market is too small or your costs are too high. By identifying these issues early, you can adjust your strategy or decide not to proceed.

Premortems are a powerful tool for avoiding unnecessary risks and making smarter decisions.

Examples

Entrepreneurs use premortems to identify potential business risks.
Project managers use premortems to anticipate challenges and set realistic goals.
Athletes use premortems to plan for injuries or setbacks.

9. Quitting frees you to pursue better opportunities

The ultimate benefit of quitting is that it frees you to focus on what truly matters. By letting go of losing efforts, you can redirect your time, energy, and resources toward more rewarding pursuits.

Stewart Butterfield’s decision to quit “Glitch” allowed him to create Slack, a tool that revolutionized workplace communication. If he had clung to his original goal, he would have missed this opportunity.

Quitting isn’t about failure; it’s about making room for success.

Examples