Sunk Cost
topic on 3 shows · 3 statements across 3 episodes
the Knowledge Project 
How I Built This 
20VC
3 statements about Sunk Cost, every show
Grant: Sunk-cost traps stem from ego rather than economics
“We think it's about some costs, but the most powerful drivers are not economic. They're emotional. It's ego and image. I don't want to look like a bad decision maker. I don't want to see a bad decision maker in the mirror.”
Duke: Sunk cost fallacy is the dark side of grit
“Grit is such a great topic, and, you know, sticking to things that are hard and not getting kind of stuck in local minima is a really, really important feature of people who are successful. But the question is, like, you know, there's a dark side to grit, righ…”