Steve Jobs' sunk cost
Poker reminds me of the sunk cost fallacy. It can be a tough decision to fold your cards after making a big bet. On the one hand, you don't want to lose the money you already put into the pot. On the other, you want to save your resources to continue playing the game. Like a poker bet, a sunk cost is a price that has already been paid and should not control future actions. Experienced leaders stay aware of the sunk cost fallacy. When Steve Jobs returned to Apple, he focused the company's...