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Why we stick with things too long (Focus on the sunk cost fallacy)

 

I was watching the popular TV series Lego Masters, and something one of the contestants said really got my attention.

Welcome to Focus On, a focus on a specific topic, business or issue for the month.

So what did she say that captured my attention?

“I’m just terrified I have spent this time building something that now won’t be used. I don’t want that to be wasted building time”.

This is the “sunk cost fallacy” - the predicament we find ourselves in...

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