The Jackpot Economy

I’ve had days where getting out of bed was its own special challenge. Where nothing sounded better than hiding under the covers, paralyzed by a fear of failure that wouldn’t let go, and the only way I could cope was not to cope at all. I’d  let the time pass, until darkness came, another day gone. And so often, I’d furrow deep into my mind and wonder where it all went. Where the hope went. Where the certainty went. What happened to the me of yesterday? 

It used to be you had security. Drinks at lunch, a bar in the office, and a 9-to-5 job with a career ahead. You paid your dues, you got in, and you rode the slipstream right into your sunny retirement with the gold watch and Mai Tais on the beach. But those are days long gone in a new economy that’s becoming well worn.

Now we’ve got the age of reinvention. A carrot on a stick and a constant chase. You go at it. You go hard. If you don’t make it, you take a breath, and do it all over again. Wash. Rinse. Repeat. And if you do make it? You ride it, then you take a breath, and you do it all over again. Whatever you do, you can’t coast. Not now. Not when it’s only you. Not when constant concern and an endless fight defines the day. Go big or go home has never been more true. As Andrew Ross says in Nice Work if You Can Get It, it’s a Jackpot Economy.

Uncertainty is the new normal, and braving it is more than just brave. It’s essential and necessary, and as gutsy it gets – risking failure for every small success. Something works, so what? The slipstream is gone, so all you can do is double down and go on.

But here’s something to think about. In the face of this constant reinvention, where you up the stakes every single step of the way – where even retreat offers barely a pause and hardly a rest – consider this:

Harvard Psychologist Daniel Gilbert found lottery winners returned back to previous levels of happiness after only 3 years. We simply adjust. Which we all know, because you get something new – the fast new computer, the shiny car, or the big contract – and it takes no time at all before the dissatisfaction returns, and we’re right back at it, looking to the next thing.

But if it’s true that we adjust no matter what happens, because that’s how we are, then here’s the corollary: when you lose something, you’ll normalize too. Your body takes care of itself. It feels like you’re risking the world every time you take a step forward. And maybe it’s always been that way, but the tension has been ratcheted up more than a few notches as we live at the speed of data. But know if you slip and fall, you’ll bounce back just the same. Which Daniel Gilbert also confirmed. Like lottery winners, amputees returned to their normal level of happiness, as well.

For all the glory of living your way, there’s also a gnawing fear when so much is on the line. Even the smallest of things can feel monumental. So much so that it can be easier to cradle yourself tight and let the time pass than to take the risk and make the wrong call. It may seem like there’s more skin in the game now than ever, but if a win is only going to last so long, a loss is just part of equation, and we always bounce back to where we were and who we are, then in reality going big never cost less. So let go of the worry. Let go of the drag on your wings that keep you from flight. Once you do that, you’ll find the hope. You’ll find yourself. And you’ll find tomorrow.