A sunk cost is a cost that has already been incurred and cannot be recovered.
The practice of funding a project or venture by raising small amounts of money from a large number of people, typically via the internet.
Creative leadership is guiding teams with vision and originality, fostering an environment where innovative ideas are generated and valued.
Relationships between businesses formed to pursue common opportunities that neither company could achieve alone.
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.
