Annie Duke

So like whenever you're in this sort of dating category or the intern category, just go fast.

It doesn't really matter.

But when you're in that CFO or marriage category, those are rarer decisions.

That's when you should actually slow down.

Yeah, so first of all, one of the problems that we have as decision makers, and it kind of goes back to that idea when I said the thing that's really hard for people when they're ordering from a menu is that they're afraid that the meal is going to be bad.

One of the biases that we have is called loss aversion.

And what that means is that when you're imagining the possibilities that are going to occur in the future, you tend to be more focused on the bad things that can happen.

than the good things.

And when you get more focused on the bad things that happen, you can see how that would cause paralysis, right?

Like this very slow decision-making because you're so concerned about quote unquote getting the decision right.

So that's one piece of that imagining of the future.

Look, here's the fact is that when we're making decisions, at the moment that we make decisions, the decision, we know very little in comparison to all there is to be known.

That's just the state of being human.

And there's going to be an influence of luck on the outcome.

So even in the situation where we know everything we need to know, like we have a coin and we've weighed it, and we know that it's going to land heads 50% of the time and tails 50% of the time, on a single flip, we still don't know what's going to land.

Because that's just under the influence of luck.

But because we know very little in comparison to all there is to be known, we actually don't even know if the coin is two-sided.

We don't know if it's a fair coin.

Maybe it's not a fair coin.

Maybe it's got three sides or four sides.