Avoiding sunk cost fallacy helps in making rational decisions based on current realities.
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Discover how to sharpen your mind and make better decisions with "Clear Thinking" by Shane Parrish, leveraging mental models and overcoming cognitive biases.
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Sunk-cost fallacy. Present yourself with the new options at hand -- without considering the sunk cost.
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When running a company, many entrepreneurs fail to quit, change direction or pivot their business model, unable to admit that what they were doing isn’t working, or that they were plain wrong in their decisions.
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