mrevaunit42:twitblr:Doing the same thing over & over again & expecting a different result. (
mrevaunit42:twitblr:Doing the same thing over & over again & expecting a different result. (x) this is a very important and hard lesson to learn. Officially in business it’s called sunk cost fallacy but I found it exists in every day in real life. The basis is this: You make an investment and basically it doesn’t pay back. In fact it costs more and more but you think to yourself alright this isn’t working, I’ll just get back what I put in so I can break even and I’ll call it quits. Of course since this is a bad investment, you just keep putting more and more, wasting your time, money and effort on something that ultimately will never pay back, let alone pay off, BUT you can’t bring yourself to cut your losses because this costed you something. So you get in this endless loop of investing in something that will never work but dumping more into it in hope that somehow it’ll work out in a way where you don’t lose. Sometimes situations in life you can’t win for whatever reason, usually beyond your control. It’s no fault of your own, it’s nothing you did wrong. Sometimes you just can’t win and the best way to win is to make sure you lose the least amount you can. It’s okay to lose. It’s okay to cut your losses and feel shitty, swindled, disappointed, mad. that’s all okay. It’s better than wasting time, effort and more money on something that will never give it back. -- source link
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