I just realised that I’ve let myself fall for the Sunk Cost Fallacy, after noticing that I spend more time than I should (not more than a second!) holding on to specific connections.
“…human beings—even rational ones—have a limited capacity to remember the original reasoning behind their decisions. If that capacity is exceeded, the information could be lost—so we need a mental placeholder that can remind us of why we decided something…” – K Podcast
Two things seem to be the root of ‘my hope’ of getting back the time I’ve invested in each person:
- I would finally figure out what kind of value I can bring – 10% likely
- Might end up as part of my five – 3% likely
It took a conversation with a fellow Elementary viewer to jolt a reminder (yes like an indirect accountability partner!) effective enough to make me take notice that I am focusing on the pain (I’ve already invested hours in getting to know the person and you want me to just throw it away!?) rather than the gain (thinking of what I’ve learned from the failed connections so I can best serve the right people, by spending 0 seconds on the wrong people).
- “I know of many people who’ve invested money into a project, and incorrectly make future decisions based on feeling committed to the project, even after realizing it probably wasn’t optimal.” – Billy Murphy
- “I should have had it out that night. And I didn’t, and the end result was that I wasted three years on a relationship that I should’ve known pretty early on wasn’t going anywhere.” – Megan McArdle via NPR
- “You are concerned with what you “paid” for something rather than what you will get out of it in the future.” – Robert Leahy via Psychology Today
Did this post spark something that you’d like to talk about more? Go for it! Send me a quick note so I can learn about your bumpy (yet exciting!) adventures.
Was it was an action!?
Better do that first before sending me that note!
First time visiting? It’ll be great if you head here after reading. 🙂