Another interesting post Akos. And certainly a real scenario.
From my experience of seeing such situations, it's often a case where teams invest time into such upgrades without proper fact-checking or data analysis. Once they realize this, they get caught up in the "sunk-cost fallacy". It's like throwing good money after bad hoping that the net result is profit.
Thanks, Anton! I'm sure you've been in this situation 😀 and yes, the feeling of having to push through (a questionable idea) because you're already too invested is hard to fight...
I still have some ongoing projects I should kill because they aren't profitable, but I've already spent too much time on them.
Another interesting post Akos. And certainly a real scenario.
From my experience of seeing such situations, it's often a case where teams invest time into such upgrades without proper fact-checking or data analysis. Once they realize this, they get caught up in the "sunk-cost fallacy". It's like throwing good money after bad hoping that the net result is profit.
Thanks for the mention as well!
Thanks, Saurabh! Yes most of the time it's the fear of throwing away invested time. And I love how all these fallacies have names. 😃
I enjoyed the article Akos :)
Very often in such cases people jump into the upgrade, and then feel too invested to reevaluate that decision later on.
Thanks, Anton! I'm sure you've been in this situation 😀 and yes, the feeling of having to push through (a questionable idea) because you're already too invested is hard to fight...
I still have some ongoing projects I should kill because they aren't profitable, but I've already spent too much time on them.