A sunk cost is a cost that has already been incurred and cannot be recovered.
Incubators nurture startups with resources and support to accelerate growth and success.
A small colored piece of paper of adhesive backing that can be stuck almost anywhere, in order to remind oneself of things
Refers to individuals tasked with making high-level decisions and setting long-term objectives firsthand. Top-level management.
The Sunk Cost Fallacy is a toxic mindset that keeps people and companies investing in failed projects even when they should be stopped.
Sunk-cost bias affects decision-making in innovation projects, leading to zombie projects. Daily reflection and mindfulness meditation can help reduce sunk-cost bias and the anticipation of regret in the future if a project is abandoned.
