Sunk Costs: An invisible, pervasive peril
07:55
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Published: Feb 15, 2010
Many of my mistakes can be trace back to a failure to recognize and appreciate "sunk cost."
It's perfectly natural to feel attached to your sunk costs. It sucks to acknowledge that you've wasted time, money, energy, and reputation.
But it's even worse to irrationally prolong the waste.
