Success and Failure as teachers

The downside of success is hubris. Hubris tricks intelligent people into thinking there’s no downside or chance of losing and that luck didn’t play a big role in their win.

The downside of failure, other than failing, is that it tricks smart and persistent people into thinking they made dumb decisions and don’t factor in bad luck and shitty timing.

Annie Duke’s book called Thinking in Bets is the best book about how to learn from success and failure.