Worklife with Adam Grant How to Rethink a Bad Decision
24 snips
Mar 30, 2021 
In this discussion, Barry Staw, an organizational behavior professor at UC Berkeley, and Kathy Hanoon, a former rapid evaluator at Google’s Moonshot Factory, tackle the sticky issue of bad decisions. They explore the psychological trap of escalation of commitment, revealing why we stubbornly cling to our poor choices. Staw shares insights on emotional attachments impacting decisions, while Hanoon emphasizes the need for 'kill signals' to pivot effectively in projects. Their combined expertise offers valuable strategies for recognizing when to let go and fostering accountability in decision-making.
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Fyre Festival Disaster
- Alexis attended Fyre Festival due to social pressure and sunk costs, despite warning signs.
- The festival was a notorious fraud, highlighting the dangers of escalation of commitment.
Escalation of Commitment
- Escalation of commitment involves clinging to bad decisions despite negative evidence.
- It's driven by emotional factors like ego, image, and anticipated regret, not just sunk costs.
Barry Staw's Father's Business
- Barry Staw's father escalated his commitment to his failing business, refusing to admit defeat.
- This experience shaped Barry's understanding of escalation, even influencing his view of the Vietnam War.