Here is a startling conclusion. You can be competent at many things, but you can only be good at one. Our society has become very specialized and as a result, the people that have more value will be the ones with the expertise in one thing. The challenge is the one thing will have at least 5 or 6 major innovations in your lifetime. Happy studying. Guy
Day 3,225 – The Sunk Cost Fallacy
The sunk cost fallacy describes the tendency to continue investing in a losing proposition because of past investments that cannot be recovered. This often leads to greater losses and regret. The key is to evaluate if future rewards justify additional investment, or if it’s better to cut losses.
