A quotation from Hyman Rickover

Another principle for successful application of a sophisticated technology is to resist the human inclination to hope that things will work out, despite evidence or suspicions to the contrary. This may seem obvious, but it is a human factor you must be conscious of and actively guard against. It can affect you in subtle ways, particularly when you have spent a lot of time and energy on a project and feel personally responsible for it, and thus somewhat possessive. It is a common human problem and it is not easy to admit what you thought was correct did not turn out that way.

Hyman Rickover (1900-1986) American naval engineer, submariner, US Navy Admiral
Essay (1979-05-24), Statement before the Subcommittee on Energy Research and Production, Committee on Science and Technology, US House of Representatives

More about this quote: wist.info/rickover-hyman/82149…

#quote #quotes #quotation #qotd #hymanrickover #bias #commitment #engineering #error #hope #investment #miscalculation #possessiveness #project #projectmanagement #research #sunkcost #wrong

In my observation, #SunkCost, #ego, and #MotivatedReasoning are the reasons why people, groups, and communities fall into patterns, and why breaking these patterns can be challenging.

Excess time, energy, and money have been expended and value must be returned to justify the expenditure.

The time, energy, and money benefits someone or some team’s self-image and status.

The justification and optics are wound up in a rationale.

My $0.02.

I don’t make the rules.

Your five-year plan is probably already outdated. Adaptability is key!
My 3 keys to pivoting with purpose:
🔬 Experiment in low-stakes ways.
💪 Seek "stretch" roles while you're secure.
🧠 Cultivate perpetual curiosity.

Read the full guide here: https://zurl.co/u5JvP

#CareerPivot #SunkCost #CareerAdvice

Is your hard work actually holding you back?

The biggest career trap isn't a lack of effort—it's effort spent in the wrong direction (hello, sunk cost fallacy).

This week, we're talking all about the power of the strategic pivot. Ready to break free? https://zurl.co/SMDLf

#CareerPivot #SunkCost #EQ

Don't let your hard work become a cage.

I spent 4 years trapped by the sunk cost fallacy. My new blog post is about how to recognize when it's time to pivot, not just persevere.

Read the post here: https://zurl.co/0gG63

#SunkCost #CareerPivot #Leadership #EmotionalIntelligence

What do I do with all these black holes I bought?!

#sunkCost

CC @mcc

Learning to recognize & deal with the Sunk Cost Fallacy is not only good advice for makers, learners & businesses - everyone should learn this in school.

If most people knew how to depart with the logic of "I already have too much invested in this to let it go" & take a sober look at things instead, something like half the world's Big Hairy Problems would be gone & most of the rest would be a lot easier to solve...

https://www.youtube.com/watch?v=BMVHI7ZSsqk #SunkCost #society #LifeSkills

@SnowshadowII @PandaChronicle

#CoreValues aren’t “core” until, and unless, they cost you something.

Friction - intellectual, emotional, or even physical - is a leading indicator of the #SunkCost.

Preordered Ramjet and Armada Wheeljack, as I am NOT missing on Ramjet AGAIN. I don't even really like the damn Earthrise Seeker mold, but I committed to getting all six of the bastards and I've got the other five. #SunkCost

And Armada Wheeljack because of course Armada Wheeljack. They actually retooled the chest to have the damage! I might've skipped it if it were just a sticker.

#Transformers

Business Finance - Sunk Cost - Money that can't be recovered. Gone forever. Don't keep sinking. #finance #business #sunkcost

Translating the ancient #dnd generators to more popular programming languages is a good exercise, and a public service, right? #softwarepreservation #sunkcost

4d house‽👀👀🥴🤨😳

https://odysee.com/@Idontlikenames:7/MessageLost_p1_4dhouse:8

#4d #gamedev #indiedev #voxel #geometry #synth #owo #omg #minecraft #asmr #nocontext #sunkcost #MessageLost

It costs MYR1,600 (335USD) per person to use licensed copies of #Windows and #Office at work. This is more than the cost of a basic office PC itself.

The vast majority of PC users have no real reason to require using Windows or Office; it's just what we've been told to use, and never considered any alternative.
#FOSS #Linux #TechMonopoly #sunkcost #vendorlock

Do you know someone who
suffers from the Semmelweis reflex?

@danibeckman

"Semmelweis effect" is a metaphor for the reflex-like tendency to reject new evidence or new knowledge because it contradicts established norms, beliefs, or paradigms.

#Bias #HealthCare #SemmelweisEffect #Norms #beliefs #Paradigms #SunkCost

@PragmaticAndy @johannarothman @RonJeffries @marick

My thesis is that #SunkCost, #ego, and #MotivatedReasoning is why we can’t have nice things.

#Irrational escalation of #commitment is reflected in such proverbial images as "throwing good money after bad", or "In for a penny, in for a pound", or "It's never the wrong time to make the right decision", or "If you find yourself in a hole, stop digging". https://en.wikipedia.org/wiki/Escalation_of_commitment

#SunkCost #fallacy #Arianespace #ESA

@Enigma @mipsytipsy

Very insightful distinction.

As you said it is an continuum.
I don't think that "when you add software to improve 'security', you (only) increase the attack surface area risk from the new software itself."
(I added the "only" to make it more pointed ;-)

I think that there is "security code" which, while it increase the attack surface, nevertheless is beneficial.

Examples
* Code processes and verifies signed updates increase the attack surface but is very likely more secure.
* Code which logs security event increase the attack surface but is probably very beneficial.

I like to point out hardware development, debugging interface increase the manufacturing costs and introduce additional failure options, nevertheless you will find them in most hardware because the benefit outweighs the costs.

The important bit is to make the informed decision an be ready to reverse it. Meaning if code (security or otherwise) turns out not to be as beneficial as thought, remove it!

And that is were in my experience, the #SunkCost fallacy kicks in. The argument goes somewhat "the code is there and provides a marginal/unknown benefit. Removing it cost resources. So just keep it"

This is fatal because keeping it cost more on the long run.

#SunkCost, #ego, and #MotivatedReasoning have high R-squared and low p-value for model explainability: https://thecanadian.social/@mike/111030070425084238 via @mike

Too much grit can be a bad thing. Don't be afraid to pivot if you're not making progress. #grit #sunkcost #productivity #range