Moneycontrol Global Wealth Summit: Bestselling author Daniel Pink advocates embracing regret as a tool for growth

Daniel Pink

Bestselling author Daniel Pink said that viewing regret not as a negative emotion to be avoided, but as a valuable source of information for future improvement, can be transformative.

He was speaking at the Moneycontrol Global Wealth Summit.

Pink, known for his insightful books on business and human behaviour, challenged the common notion of perfection, emphasising that growth and learning stem from acknowledging and analysing our regrets.

“Anybody who tells you they have no regrets is lying. Only 5-year-olds have no regrets,” Pink stated, underscoring the universality of this emotion. He clarified that regrets often highlight what individuals value most. “What they regret most is what they value the most.”

Pink is the author of several influential books, including “Drive: The Surprising Truth About What Motivates Us” and “A Whole New Mind: Why Right-Brainers Will Rule the Future.” His latest book, “The Power of Regret: How Looking Backward Moves Us Forward,” delves into the complexities of regret and its potential for positive change.

Pink argued that regret is an adaptive emotion that serves a purpose. “Regret as an emotion is adaptive and can serve a purpose,” Pink explained. “Regrets help us make better decisions in the future.”

During his address, Pink distinguished between regret and disappointment. He asserted that regret pertains to situations within our control, whereas disappointment arises from uncontrollable circumstances.

“You can regret things that you have control over, otherwise, it is a disappointment,” he said. He used the volatility of the market as an example of something that leads to disappointment. “The market is volatile and the notion that you have control over it is a fool’s game. You evaluate the decision, not the outcome.”

Pink also addressed the different types of regrets, noting that “regrets of inaction are worse and stick with you.” He encouraged the audience to treat themselves with kindness and respect when examining their regrets. “You should treat yourself with respect and kindness rather than contempt.” He advised treating regret as a signal. “Treat regret as information or signal, it will make you better.”

He argued that a healthy emotional portfolio includes a range of feelings, including negative ones. “If you look at human emotions as a portfolio, you would want to have a diversified portfolio of positive and negative emotions from regrets, and grief to fear. Not all negative emotions are bad. They are functional.”

In closing, Pink reiterated that the goal of life is not to avoid regret but to learn from it. “The goal is not perfection, but doing better. Talk about your regrets and tell what they learned from that.”