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Why everything we’ve been taught about quitting is wrong — Annie Duke

In Depth

NOTE

It's Broken if I Just Hire Another Salesperson

The sunk cost effect is when we've put a lot of effort into something. We don't want to switch because we think that then we'll have wasted it. Once you've established a status quo, which in the example you're giving me, it's very hard for us to switch. And what really matters is does it make sense to spend resources time of great salesperson's energy executing the strategy that you have going forward?

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