Playing With House Money

“On May 2, 1972, Bruce Springsteen auditioned for the record producer John Hammond. Hammond had signed icons like Bob Dylan and Aretha Franklin—two of Springsteen’s heroes. “I would’ve been in a state of complete panic,” Springsteen writes in Born To Run, “except on the way up in the elevator, I performed a little mental jiu-jitsu on myself. I thought, ‘I’ve got nothing so I’ve got nothing to lose. I can only gain should this work out. If it don’t, I still got what I came in with. I make my way through the world as myself and I’ll still be that person when I leave no matter the outcome.’” By performing a little mental jiu-jitsu, by holding his dream of landing a record deal with a loose grip, Springsteen said that instead of panicking, he walked into the audition feeling confident. He performed his song, “It’s Hard to Be a Saint in the City.” “When I was done I looked up,” Springsteen writes, “and I heard him say, ‘You’ve got to be on Columbia Records…That was wonderful.’” Springsteen signed a ten-album deal and would go on to record with Hammond and Columbia Records for the next fifty years.” -excerpt from Billy Oppenheimer’s Six At Six Newsletter

… Well I was the king of the alley
I could talk a trash
I was the prince of the pauper
Crowned downtown at the beggar’s bash
I was the pimp’s main prophet
I kept everything cool
Just a backstreet gambler with the luck to lose -song, “It’s Hard To Be A Saint In The City” by Bruce Springsteen

“Playing with house money” is a gambling idiom used when a person is betting with their winnings rather than risking their original capital.

Another way to think about this is you’ve got nothing to lose. (Think of an underdog, Cinderella team going on a hot streak in the NCAA Basketball tournament.) As a result you play loose and free, perhaps, more aggressive.

This should be the approach for most things in life. Yes, it matters. Yes, you care deeply and want to win (or perform well, win the part, nail the job interview, give a great speech, etc…). Yes, you want to work hard and do everything you can to prepare.

But at the end of the day, (assuming you have your health and basic needs covered), you’re playing with house money.

So.

Be bold.

Be fearless.

Have fun.

Leave it all out there.

You’ve got nothing to lose.

Cuz you’re playing with house money.

Might as well go for it.

Go make your art.

P.S. – Click Here to listen to the Springsteen demo.