Sunk Cost Fallacy

When one invests so much into an idea, a following, a narrative, a tribe and you have been defined by that, it is uber incredibly difficult to cut your losses to a minimum to change that narrative. Sometimes people will rather double down and lose money, fame, opportunity, credibility, influence, their character and even their morals over admitting they made a mistake. In fact, people who continually lose money at the gambling table, continually drive down the wrong street and continually prop up a false narrative with the explanation that “it is the principle of the thing.” Whereas context is everything here and yes, principles are important, one must still have the wisdom to know if sticking to one’s “principles” is right in a specific context. “The principle of the thing” is the very problem if the principle is wrong and sticking to your “tribe” out of fear is what you are doing.

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