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How a $10 Billion Mistake Could Have Been Avoided (The Sunk Cost Trap)
In today’s episode, we uncover yet another dangerous psychological trap that keeps leaders pouring money and resources into failing projects—simply because they’ve already invested too much to walk away. I’m talking about the sunk cost fallacy.
Using examples from history, such as the Concorde jet, Quibi's billion-dollar flop, and Kodak's disastrous delay in embracing digital photography, we'll explore why leaders sometimes double down on doomed investments instead of cutting their losses. I'll also share actionable strategies to recognize and break free from this trap.
Don't let your past…
The skinny
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