LSD's poker blog: Thursday, March 9th: Deep Thoughts, Part I

Thursday, March 09, 2006

Thursday, March 9th: Deep Thoughts, Part I

There are 2 topics I've had on my mind about which I know I need to write about before the sun sets on this blog, but I haven't quite figured out in what order I should address them, nor in what context. They are a) just how "fulfulling" poker might be as not only a hobby, but a life pursuit, and b) the wicked curveball that is the financial success that comes along with winning mid-to-high stakes poker, not only for myself, but for a whole generation of young adults. The more thought I put into these topics, though, the more I realize that (for me) they're very much intertwined. So I'm going to stop wasting energy trying to parse them into separate subjects, and simply begin with the former to see where it leads -- even if it means having to tolerate some digressions in thought or disorganization of ideas.

I remember in the Fall of 2004, when I first left law school to play 2/4 and 3/6 poker, I was so excited by the fact that even playing just those low stakes, I might eek out a 6-figure annual income (comparable, at least initially) to what they were paying young attorneys. But at least poker, I reasoned, I enjoyed, unlike the brutal hours and mundane tasks associated with practicing law straight out of school. How paradoxical, then, that now that I find myself playing at stakes over 10 times as high (with the commensurate increase in potential earnings), that I've started to come to appreciate that poker simply ISN'T something I really could see myself doing for any significant chunk of my life.

Just how useful are poker players to society? Are they completely irrelevant? If I played poker into middle age and retired at 40 with 10 million dollars in the bank, would I be happy? Fulfilled? I've recently begun to think a lot more about the people I come across who have become experts in their field and/or very well-respected by their peers. For example, the orthodontist and oral surgeon who worked on me for my surgery last year both came very very very highly-recommended, and the orthodontist in particular is, I am convinced, one of the top 2 or 3 guys in all of Manhattan. Just brilliant. These are men who devoted their entire lives to becoming masters of their craft, and I'm sure have been very well compensated for it. To take another example, I recently went to see a one-man play in Toronto, and couldn't get over how much hard work the star must have had to put in to perform for us. In fact, we all probably run across at least a few people every single week who you might say have truly achieved excellence in their life pursuits, typically through decades of dedication, and above all: hard work.

And that's the maddening oddity about my poker success, and why I'm having trouble envisioning myself playing for all that much longer: I think I've achieved extraordinary success to this point, and I don't think I'm being unreasonable when I put my excellence (in my "field") on par with the excellence of any top practitioners in their respective fields (be they medical, artistic, cultural, professional, or athletic), and yet I've gotten there putting in only a fraction of the time and effort of those other professionals. I realize I probably didn't win any points for modesty in writing the preceding passage, but I'm not going to waste any space here debating the strengths and weaknesses of my poker game. There's no doubt that I have a lot to learn, but my results have also been phenomenal to this point.

When I was 13, I remember my dad giving a speech telling me that there were no short-cuts in life. I think he probably saw that I really enjoyed finding ways to create efficiencies and exploit every opportunity I could, especially for financial gain. I was the kid who brought a cooler full of Cokes to middle school and set up shop next to the school's vending machine during recess selling cans for half the vending-machine price and making a tidy $20 / day (a fortune to a young adolescent) until I was told to cease and desist by the principal. I was also the kid who complained a little too loudly that the school's "fast food / pizza days" (where you could pay $10 for a few slices of pizza and a soda) were a complete rip-off, and again got into a little bit of trouble. Anyway, I digress: the point is that my parents no doubt saw the propensity I had toward finding shortcuts to "easy street" in life, and thought it wise to remind me that there were no such shortcuts: that the surefire way to success and happiness was through applying myself to a passionate pursuit so that I could support a family some day (and undoubtedly counsel my own children about the virtues of hard work, and the perils of ventures of fancy.)

Then along comes this poker thing, which I have trouble characterizing as anything BUT a shortcut. All of a sudden, you've got a bunch of 19 - 25 year olds running around with 6 figure bank accounts, never really having had to labor through 5 to 10 years of miserable office work, and thinking these "good times" will last forever. As much as I've enjoyed my poker success to date, I'm starting to think that maybe the "downside" to this apparent 'shortcut' is that it might result in an incredibly unfulfulling life. I'm 26 and a half. Sure, I'm still young, but hell, I'm not 17 anymore either. I picture myself waking up one morning as a 45-year old in a nice 3-story house in a gated community with a couple nice cars in the driveway, but otherwise living a frighteningly shallow existence. Is the man with a $250,000 bank account balance really any "better" a human being than the man with a $200,000 balance? How about the guy with $10 Million in the bank -- what really distinguishes him from the guy with $3 Million? We might be tempted to say "nothing", but $7 Million is a hell of a lot of money...is the conclusion simply that you will eventually reach a point where you have attained a minimum baseline level of financial comfort beyond which incremental increases simply don't matter all that much? Regardless, all I guess I'm getting at is that I want to have a hell of a lot more to hang my hat on in my forties and fifties than a healthy savings account and a Rolex watch.

I suppose this is where the idea of "value to society" comes in, but man am I having a difficult time wrapping my head around it. Think, perhaps about Phil Hellmuth, Daniel Negraneau, or any number of other well-known poker professionals. Have they actually contributed anything of value to our society? I think 'yes', but I also think there's ample room there for a counter-argument. Are they living happy, fulfilling lives, simply because they happen to be at the top of their "profession"? Many months ago, I wrote about an interesting perspective that one reader had offerred me via email about the writings of philosopher Joseph Campbell, which argued roughly (and apologies to any Campbell buffs who I'm sure think I'm bastardizing these ideas) that each of our duties was to live an AUTHENTIC life. In other words (or at least what I took that to mean), as long as we were pursuing something we felt passionate about, or perhaps that we felt was our true calling, we could justify that as a suitably authentic and worthwhile existence. I think that perspective has a certaind degree of intuitive appeal to me, because it more or less absolved me of having to consider nor meet anybody ELSE'S expectations, as long as I can maintain that I am living authentically. But I wonder: is that just a cop-out? Is it just a simple feel-good semantic snippet that allows us to be momentarily selfish, but which we will regret on our deathbed?

My dad once asked me what my ideal job is, and I answered truthfully: a professional baseball player. He then said to me: "OK, would you still be a baseball player if I told you that you woulnd't be a Hall of Famer?"
"Of course," I answered.
"Alright, what if you weren't even going to make an All-Star Team?"
The answer was still yes, simply because the prospect of fame and a nice-sized paycheck, coupled with playing a sport I love appealed to me so much (and still does.)
I would want to be a baseball player even if I were going to be no more than a utility player who spends most of the season on the end of the bench. My dad continued with the hypotheticals: What about, though, if I were going to be a career minor-leaguer, shuttling about on a minor league bus from game-to-game, never tasting the big leagues, and earning $60,000 / year or something. Hmmm...now things start getting a little dicey, and where perhaps the "authentic living" parable starts to break down. I've always had a very strong drive to be "the best" at whatever it is that I do. Sure, there's something to be said about choosing a career that's well-respected by one's peers, but I think the reason this poker thing's been so appealing to me thus far is that I can say, at a relatively young age, "wow, I've reached the upper echelons of my 'trade'", so to speak. Yet I can't kick this nagging feeling that I was meant for 'greater' things...and it's here, at this intersection of monetary remuneration, societal worth, and personal fulfillment that I'm currently spinning my wheels.

I realize that I posed a hell of a lot more questions than I provided answers in my little monologue above, but I simply don't profess to be any closer to solving the above questions than any other Tom, Dick, or Jane. But one of the more worthwhile contributions poker has made to my life is that it's allowed me to thoughtfully consider the preceding queries. I'm not quite sure I would have had the right perspective to even know what questions to ask, had I not been exposed to the life experiences I've detailed to this point in this blog. Perspective. I guess that's what it comes down to. These are big, important life questions. Poker itself might be nothing more than an insignificant game of chance played with slips of paper with different colors and numbers, but the persepctive that it's afforded me in exploring my own values, ambitions, and even insecurities has really been a blessing. I have no idea how disorganized the above must have come across -- I feel as though it addressed only 10% of the things that I've got swirling around in my head, but it's a start.

I've got the Party Poker cruise coming up in a few days, which will allow me to write more about poker proper, if the above philosophical crap was nothing more than an annoyance.

11 Comments:

Blogger Valkerian said...

Here are my thoughts on this, an I'd like you to chew them over for a little while.

You've been granted a wonderful gift: time and an easy income. How many more doctors would join Doctors Without Borders if they had enough money that it didn't matter. How many artists would paint, write, create?

Poker is not your career. You have yet to decide on one. Are you an artist? A musician? You've been placed on this world with a chance to do something with it. Not many people are given that chance, and the ones that do get it usually mess it up some how.

So, what are you waiting for? You're up batter.


If you have some spare time to read a book or two, please consider giving Spider Robinson an evening or two. (www.spiderrobinson.com)

Valk

6:51 PM  
Anonymous Anonymous said...

To brutally paraphrase Jon Kabbit Zin: Know who you are working for.

Becoming an associate attorney may sound like a noble proffesion, but in the end you will be working for a bunch of soleless old bastards who would gladly ruin your life for years to make themeselves richer all while dangling the partnership carrot above your head. By the time you make partnership your wife will have left you and you will be stuck wondering "how did I get here". Seen it a million times! (ok not really, but it sort of looks like how it goes down)

Your right to appreciate your poker talent. Overall very few people have the opportunity to work for themselves, especially at such a young age.

Again, I very much enjoy reading your blog- easily the most "authentic" out there.

Thanks,

Gordo

8:52 PM  
Anonymous Anonymous said...

I enjoy your blog for several reasons. First, the vicarious ride you take us on with your poker adventures and secondly, your introspection.

Consider a couple of things..first the cosmic joke that you have no idea how much time you have to live..yet, our society measures all things in money.

Most everyday Joe's & Jane's exchange their time (40+ hour a week job) for money. Giving up precious time.

The equation is zero sum... time or money...but, you're lucky, you can have both!

You have a gift and the tools to not only make money on your time frames and by your rules; but, you also have the ability to fulfill your need to contribute to society.

With your law background, you can volunteer for a worthy charity you care about (even if it's 10 hours a week, plus it looks good on your resume if you ever need to find a "real" job).

Another option to consider is a marriage of your skills. Applying your lawyering skills to the business of poker.....a friend of mine is the lead counsel for an Indian Casino/Tribe and he loves it.

Go forth and live an authentic life and don't worry the rest takes care of itself.

ktwest

9:15 PM  
Anonymous Anonymous said...

You have been given the chance to look for your life purpose.

This is a chance only given to people that have enough money to not be slaves to it or to someone else.

You are in a tough position. Finding one's life purpose is not an easy task.

For all technnical purposes, if your passive income exceeds your expenses, you are rich and free. At this point extra money only buys extra luxuries, never peace of mind.

IMO the first read for you now is a section in the Bible called "Ecclesiastes". This section basically describes King Solomon's soul search after he had achieved "infinite wisdom and riches".

An eye opener, to say the least.

Welcome to the club. The club of yourself.

Best

B

8:17 AM  
Anonymous Anonymous said...

Personally, I love my job. I play poker for a living and I still can't wait to get up in the morning and hit the tables.

I love learning about the game and improving.

Have you reached a point where you feel there is nothing more to learn?

Contribution to society is a fiction. Most of the wealthiest people on earth do not contribute much more to society than anyone else -- they simply decided to make a lot of money, or got lucky and stumbled into it.

I think that the purpose of life is the pursuit of happiness. If you find something that makes you happy and holds your interest -- by all means -- keep it up, invest the proceeds, and save the world when you retire with 10 billion in the bank.

8:43 AM  
Blogger adspar said...

quote:

"Contribution to society is a fiction. Most of the wealthiest people on earth do not contribute much more to society than anyone else -- they simply decided to make a lot of money, or got lucky and stumbled into it.

I think that the purpose of life is the pursuit of happiness. If you find something that makes you happy and holds your interest -- by all means -- keep it up, invest the proceeds, and save the world when you retire with 10 billion in the bank."


I agree that people should primarily pursue what makes them happy in life, in the Ayn Rand "live your yourself and no one else" sense.

But the quote above from a previous comment sounds like the defensive rationalization of someone confronted with the idea that he finds happiness in something that contributes nothing to society.

If poker truly makes you happy, that is great for you. Play on, because you enjoy it, and do whatever you want with the winnings. Don't feel pressured to do something for anyone else's benefit.

But please don't say that "contribution to society is a fiction." It isn't. Without people whose work contributes to society, we'd all be in much worse shape, and us poker players wouldn't have such an easy living.

For many people, feeling like they're contributing to society is a huge factor in what makes them happy. As a member of society who stands to benefit from such benevolence and altruism, I find it wise not to discourage those people.

I'm a poker player too, although not an especially good one. Like the law school dropout, I feel a nagging unsatisfaction that my life as a poker player is pretty worthless to society. I'm not making a fraction of what he makes, and in spite of my dissatisfaction with the life and a very modest income from poker, its going to be tough to move on to something else, because this is just so damn easy, and I'm too damn lazy.

Stepping up and doing something else would be hard, but I know I want to do it eventually. Good luck to you both.

9:26 AM  
Anonymous Anonymous said...

Very nice post as usual. One of the best ones around. Just a couple of thoughts on the topic though.
I can identify a definite urge to discover yourself - which is and should be a lifelong effort - this can only lead to great things especially if you have the approprite goals. There is a saying that I like which I face frequently in my medical profession - " The solution to the problem changes the problem"! You were a poker player - low stakes, high stakes, down , up etc etc, now what next.

Keep blogging !

10:43 AM  
Anonymous Charlie McD said...

I've posted once before to compliment you--I'm the Boalt Hall grad who swore off law to play poker.

If I may, let me offer a few questions that might illuminate some corner of the cave.

In your life, do you cheat anyone? Do you sell people things they don't need? Make money exploiting the labor of others?

Do you comply with the wishes of others for reasons of hierarchy rather than righteousness? Do you command others on this basis?

Do you seek power over other human beings? Do you rely on your wealth and status to earn the respect of others?

As a poker player, you are, to an almost unequaled extent, free to live a just life. By contrast, consider the various people your parents would deem as "contributors to society," and how they might respond to the questions above.

I would argue there are precious few people contributing to the human cause other than as a byproduct of their thirst for personal gain, and those who do are often not the mighty and prominent. They are simply people who seek fairness over their own enrichment; who try to bring joy to the lives of others rather than pain; and who strive in their own lives to practice humility and grace.

You have the freedom to do that, and your questioning shows you have the soul to do that. Keep up the writing; I assure you this is one valuable contribution to society already.

3:30 PM  
Blogger adspar said...

Reply to Charlie McD:

There is a difference between actively going out and doing something positive and avoiding doing unjust things.

I agree with you that "As a poker player, you are, to an almost unequaled extent, free to live a just life." Although I'm not sure about the unequaled extent. I think most people who are self-employed share that same freedom.

I also agree with you that "there are precious few people contributing to the human cause other than as a byproduct of their thirst for personal gain." But I want to point out that almost everyone is and should be motivated primarily by a thirst for personal gain, although such gain is different for everyone, and for some it includes feeling like you've helped others. There is nothing wrong with looking out for yourself first. As poker players, we certainly understand that.

And as to your list of questions, with the exception of cheating and possibly exploiting laborers (labor exploit is kind complicated gray area, but I assume that most child sweatshop labor is expoit, but most adults earning a fair wage isn't exploit) someone who does any of those things in a pursuit that helps others is still helping others.

For example CEO of a large company commands a hierarchy and might seek respect based on his power, but if his company provides a product that people want, he can still feel good that he's making a contribution to society. He might be a shallow and power-hungry jerk, but his work is contributing to society.

Also, I should point out that as poker pros, I have a hard time saying that we aren't selling people things they don't need. Our customers don't need to be playing against us. They don't need to call the bets we sell them into calling. They do it for fun, and in most cases they'd have just as much fun with some fish in my chair instead of me. I don't have any problem with what we do in this regard, I just want to point that out.

Your overall point is that there's a kind of quiet nobility to poker, and I agree with that. I like this quote:

Poker is the game closest to the western conception of life, where life and thought are recognized as intimately combined, where free will prevails over philosophies of fate or of chance, where men are considered moral agents and where - at least in the short run - the important thing is not what happens but what people think happens.
- John Luckacs


But I also like this one:

Poker may be a branch of psychological warfare, an art form or indeed a way of life – but it is also merely a game, in which money is simply the means of keeping score.
- Anthony Holden


Poker is just a game. And for people who want to feel like their life work contributes to society, playing a game, albeit a noble one, just doesn't cut it.

But I strongly agree with you that the law school dropout is making a valuable contribution to society by his writing.


I keep chiming in on this topic because I'm struggling with these same thoughts. Understand that I mean no disrespect to anyone I've disagreed with. I'm replying mostly for the benefit of organizing my own thoughts, and I'd be glad if I can help anyone else struggling with it.

7:15 PM  
Anonymous Charlie McD said...

Thanks for the feedback, adspar. I too am trying to organize long-festering thoughts on this.

You might be more of a pure Adam Smith adherent than I am; I don't believe, for instance, that simply providing things that people "want" means you're contributing to society's betterment.

People want McDonald's hamburgers, crack, and trinkets made of ivory. Others pay $6000 for rims while struggling to support their own children. I have a hard time respecting your CEO/entrepreneur who profits from these desires...

Also, I wouldn't advocate just "avoiding doing unjust things." We can actively do positive things on small scale, all the time. Pick up hitchhikers, speak up against unfairness and poor character (poker provides opportunities aplenty), be kind to cranky old people, etc.

Not pertinent here, but a quote I like (and I think applies well to poker): "Sport doesn't build character so much as reveal it."

5:33 PM  
Anonymous Anonymous said...

About the idea that your parent had there being no "short-cuts in life", your dad was wrong. It's just some asinine ideology, some sick, demented idea that you need some kind of whipping before you get your meal. It's just bullshit his father passed onto him and before that his father and so on, so a stupid idea tries to pass off as the absolute truth.

One guy can defeat this ideology, and you did, the ideology is thin as tissue paper.

My advice is to save up millions, with $5 million, you could collect 4% interest in a savings account and you could live off $200,000 in intrest each year, then you could go explore what makes you happy and fullfilled.

9:19 PM  

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