Annie Duke (00:00:00): It's so incredibly necessary in improving decision quality to take what's implicit and make it explicit. It's not that intuition is crap, your intuition is sometimes right. If you don't make it explicit, then you don't get to find out when it's wrong. Lenny Rachitsky (00:00:12): When you look at companies that have read your book, what do you find are the brainwashing tactics that really stick? Annie Duke (00:00:16): People generally think the purpose of a meeting is for three things, discover, discuss, decide. The only thing that's ever supposed to happen in a meeting is the discussion part. Lenny Rachitsky (00:00:25): Something that comes up in product a lot is this idea of pre-mortems. Annie Duke (00:00:28): So a pre-mortem, it's great only if you set up kill criteria. Commit to actions that you're going to take if you see those signals. Lenny Rachitsky (00:00:35): You have a very interesting framework for how to think about decision quality when the outcome is very long-term. Annie Duke (00:00:40): There is no such thing as a long feedback loop. And the way you choose to shorten the feedback loop is to say, what are the things that are correlated with the outcome that I eventually desire? Lenny Rachitsky (00:00:53): Today, my guest is Annie Duke. Annie is the author of the bestselling book Thinking in Bets, and also her more recent book Quit: The Power of Knowing When to Walk Away. She's also a special partner at First Round Capital, which we spent some time on and is incredibly fascinating. Prior to this part of her career, she was a professional poker player. She's won over $4 million in tournaments, including winning a World Series of Poker Bracelet, and she's the only woman who's won the World Series of Poker Tournament of Champions and the National Poker Heads-Up Championship. Currently, she spends her time helping companies make better decisions. In our conversation, we cover the many lessons that she's learned from her friend...