Yep. It is understanding that the sunk cost fallacy is not just about business decisions but is also very relevant in our personal lives.
The freakonomics podcast did a great episode on the subject.
Hell, even Kenny Rogers wrote a song about it.
You've got to know when to hold 'em
Know when to fold 'em
Know when to walk away
And know when to run
While this is probably true, the unspoken assumption is that you have some kind of safety net that allows you to take that risk.
I would argue that: People who have the luxury to quit when things don't work out tend to win at life, not because they quit, but because they had the luxury in the first place.
It's definitely important to know when to quit, but it's also important to know when to fight. For example, I'm in the tech industry working for a AAA videogame company. I could leave, but I'm in a luxurious position where I don't get harassed or put in dangerous situations. I also know that the rest of the tech industry is full of the same bullshit. So, I'm choosing to instead fight back and change the status quo.
People really underestimate how much the sunk cost fallacy can derail your life. Don't waste time. A year becomes 10 very fast.
To be fair, I have noticed this with people that I know that became successful. They were always super quick to turn the tables over in a neg situation. It takes a toll though.
I have walked out of damn near every job I've had so far, always when they think that attempting to screw me is a good idea
"Oh, you're one of our best drivers, flawless record, history of cleaning up other drivers messes, and we even specifically called you to hire you back after you left because we knew we could trust you? We're gonna file this blown oil filter as an accident that was your fault, no raise for you this year"
Got into a literal shouting match with my ex boss after that one, holy fuuuuuck
Is this a meme?
Hmm let's do the math real quick:
If I leave the table now, I'm garaunteed to lose $7,200
If I keep playing, I have a 50% chance (either I will or I won't) to earn a billion gajillion dollars.
But yeah, quitting is for "winners" 🤣🤣
We are breeding an entire generation of failures. People who cant take any negative criticism and cant accept that sometimes they need to try harder. This 'just quit' mentality is toxic and degenerative.
Edit: To answer the guy who commented but erased their post. I wasnt talking specifically about the workplace. I was more broadly talking about picking something up and not sticking to it because reasons 1, 2, and 3.
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