Thinking about life a lot lately. Some of the best decisions I& #39;ve made are stepping away from things that aren& #39;t for me anymore. I was an MBA student for a whole 2 weeks before learning the sunk cost fallacy. There & then, I realized 2 weeks shouldn& #39;t decide the next 3 years. (1/
In a nutshell, sunk costs are sacrifices & costs already made & spent. The fallacy then shows up when we take these sunk costs into account & consideration when making future decisions. Where in fact, we should be making decisions based on what& #39;s best NOW & ahead. (2/
Often, we& #39;re a bit blinded by the investment we& #39;ve already made be it emotional, mental, physical, spiritual. "We& #39;ve already put this much into A, so we might as well continue putting more into A rather than changing to B." (3/)
The part that sticks with me about this is that if we continue choosing & investing in A, we deny choosing & investing in B (even if it& #39;s better) simply because it didn& #39;t come first chronologically. It requires an uncomfortable change of course to let go of A & go for B. (4/)