Understanding Sunk Costs and Dynamic Pricing

Twenty years ago, Nick Kokonas had one of the best meals of his life. Instead of giving compliments to the chef, he offered to open a restaurant with him—something Kokonas had no experience in. That restaurant became Alinea, a paradigm-shifting dining experience that would win three Michelin stars and best restaurant in America in its first year. Since then, Kokonas has opened another Michelin-star restaurant, created an app that revolutionized dining reservations, self-published several books, sold his stake in Alinea and played a ton of golf with interesting people. On this episode of Mind Game, Kokonas discusses his remarkable entrepreneurial journey, his decision-making matrix, his recipe for taking risk, and what he would do to reenergize the PGA Tour.

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