Look at the diagram below. Does this feel familiar?
We feed the machine with bags of Time, Money, and Effort.
When the project fails, the machine spits out Irrecoverable Losses.
But instead of turning the machine off, we work harder. Why?
Because of that heavy Anchor at the bottom.
The Sunk Cost Fallacy: "I can't stop now, I've already fed the machine too much."
The Truth: The machine doesn't care about your past investment. If the output is "Waste", the only logical move is to cut the anchor and walk away.
Honest question: Are you currently feeding a machine like this? ๐