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Managing Risk to Build a Moonshot Venture w/ Marc Lore & Austin Russell | EP #103
Moonshots with Peter Diamandis
Embrace Better Opportunities and Avoid Sunk Costs
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Entrepreneurs must be willing to pivot towards better opportunities even if it means going against previous decisions or investments. Remaining objective and flexible in the face of new information is crucial, even if it involves challenging decisions. It is important not to get stuck in a local maximum and to recognize when there is a more promising path to pursue. Sunk costs should not factor into decision-making, as holding onto them can lead to missed opportunities and eventual disruption.
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