Liv Boeree is one of the most successful female poker players of all time. Not only did she win nearly $4 million, she also developed a decision-making philosophy that we can all use, however high the stakes.
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Liv Boeree on decisions
Liv Boeree made the wrong decision in the grand finale of a TV poker game show and lost £100 000. But it didn’t put her off and she went on to great success.
Plus, as the host of the Win Win podcast, her focus now is what happens when your choices are only made on the basis of beating the competition.
You can find the Win Win podcast here www.winwinpodcast.com
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In this episode of the Art Of Deciding, Bruce Whitfield sits down with Liv Boree, a former professional poker player and astrophysicist. Liv’s journey from the poker tables to a life dedicated to promoting rational thinking informs the discussion on how poker skills can be applied to real-life decisions.
Some of her key points are:
- Our gut also needs statistics – if you haven’t got experience to base your intuition on, then you run the risk of making poor decisions.
- Language matters – what does ‘a fair chance’ actually mean? And does it mean different things to different people? Liv unpacks the science.
- Competition can be healthy – but it can also be destructive. Liv explains her current focus on trying to use competition for the greater good in her Win Win podcast.
Poker, as Liv explains, is a microcosm of life’s messiness, where decisions are made under conditions of uncertainty and incomplete information. It’s a game that requires a delicate balance of intuition and logic, a skill set that Liv believes is crucial beyond the poker table. In the podcast, she shares her insights into how poker sharpens one’s ability to make decisions based on probabilities rather than chance, a valuable lesson for anyone looking to improve their decision-making skills.
She argues the importance of both rational analysis and intuition, noting that while data and probabilities are essential, intuition is not to be dismissed. Instead, it’s a form of data processing that, when well-calibrated, can significantly enhance decision-making. Liv’s experience in poker taught her that intuition is often a reflection of past experiences and data, making it a critical component of the decision-making process.
Bruce and Liv also talk about the challenges of maintaining rationality in the face of emotional responses. Liv shares personal anecdotes from her poker career, illustrating how emotional control and understanding one’s psychological triggers are vital for making sound decisions.
The conversation doesn’t just stop at poker and personal decision-making. Liv and Bruce explore broader themes, such as how competitive incentives drive decision-making in society. Liv’s Win-Win podcast, which she discusses on the show, aims to address how we can align short-term competitive incentives with long-term societal goals.
Whether you’re a poker enthusiast, a business leader, or simply someone interested in making better choices, Liv Boree’s perspective provides valuable lessons on the art and science of decision-making. Listen to learn how you can balance intuition with logic and make decisions that are both informed and instinctive.
References
Liv Boree – https://www.livboeree.com/
The Win Win podcast – www.winwinpodcast.com
