“Quitters never win and winners never quit.” It’s a popular saying, but it’s also bad advice. Winners quit all the time. Sometimes, people step back to play minor league baseball instead of going for a four-peat.1 Ultimately, it’s all a question of what is the best decision at that particular time.
“You’ve gotta know when to hold ‘em; know when to fold ‘em; know when to walk away; and know when to run.”—Kenny Rogers
“The Gambler” offers one of the better explanations of how not to fall victim to the sunk cost fallacy. The sunk cost fallacy is when you follow through on something because you’ve put so much into it already. The problem is that, oftentimes, taking a step back is the smarter option.
If a situation isn’t working, it doesn’t make sense to stay in it. Of course, there are situations where you have to see it through. Like finishing your education or raising a child. The key point here is that you have to weigh the options and pick what’s best.
Simone Biles said that she came to the Tokyo Olympics for herself. And she opted out of the team competition for the team and for her mental and physical well-being. This makes sense on a fundamental level. She’s playing a sport. It’s literally just a game. Her finishing the competition wouldn’t have saved any lives. But, her staying in and trying to perform could have risked hers.
“I’m not in the right headspace. I’m not going to lose a medal for this country and these girls because they worked way too hard for me to go out there and have them lose a medal.”—Simone Biles
Simone Biles just offered a masterclass in situational awareness and leadership. She knew that if her scores were low enough, it could cost the team a medal of any color. She had enough faith in her teammates that she knew that they would excel without her. She’s the G.O.A.T., but she knew she was having a bad day at the worst possible time.
“A good run is better than a bad stand any day.” —DJ Jazzy Jeff and The Fresh Prince
Old school Knicks fans know the importance of pulling yourself out when you’re having an off-night. Number 3 was a clutch player, but Game 7 of the 1994 NBA Finals was not his night. He may lead the Knicks franchise in three-pointers, but everyone will remember him for the 0 out of 11 he hit from three-point land on that night. The Knicks didn’t win the championship that year, and they still haven’t won one since 1973. Simone Biles took herself out and the team won a silver medal, so it’s hard to say that she made the wrong choice. It’s so tempting to want to be the hero who puts the team on her shoulders and carries them to victory. It’s just as heroic to take yourself out of the competition for the better of the team.
- Yes, I am saying that Michael Jordan retiring in 1993 because his head wasn’t in the game anymore is like Simone Biles stepping back. ↩
