Decision-Making

Introduction Why do smart people keep funding failing projects, sit through bad movies, or stay in unfulfilling jobs simply because they’ve “already invested so much”? The answer is the sunk cost fallacy: our tendency to let past, unrecoverable investments influence present choices that should be based only on future costs and benefits. This article offers a detailed, practical guide to understanding and avoiding sunk cost errors. We’ll cover the psychology behind the fallacy, when considering past investments is actually rational, and provide checklists, case studies, and code examples to help you make cleaner, forward-looking decisions in business and life. ...

Your Next Five Moves by Patrick Bet-David distills entrepreneurship and leadership into five strategic “moves”: know yourself, reason clearly, build the right team, scale with strategy, and deploy power plays. This article extracts 10 actionable ideas from each move (50 total), plus 10 big-picture takeaways that synthesize the whole book. It’s designed as a practical field guide you can apply immediately. Note: These are original, practical takeaways inspired by the book’s core themes. They are not quotations or a replacement for reading the book. ...