Sunk cost is the cost that’s already been paid and cannot be recovered.
You experience the sunk cost fallacy when you continue working on a bad idea, stay in an unwanted relationship, eat a meal that makes you feel sick or go to a concert during a tornado warning. The sunk cost of time, money or energy makes you continue even when you know shouldn’t.
If something isn’t working, I move on. I try not to waste time or get attached to time invested. I think about sunk cost with adventures, eating, projects, learning, books and movies.
Jeff Bezos said “people who were right a lot of the time were people who often changed their minds.” Sunk costs deter people from rightfully changing their minds. I try to never let this happen.
No matter how far you have gone on the wrong road, turn back.