In today’s episode, we uncover yet another dangerous psychological trap that keeps leaders pouring money and resources into failing projects—simply because they’ve already invested too much to walk away. I’m talking about the sunk cost fallacy.

Using examples from history, such as the Concorde jet, Quibi’s billion-dollar flop, and Kodak’s disastrous delay in embracing digital photography, we’ll explore why leaders sometimes double down on doomed investments instead of cutting their losses. I’ll also share actionable strategies to recognize and break free from this trap.

Don’t let your past investments dictate your future. Tune in to learn how to make smarter decisions, avoid costly mistakes, and lead your business toward success. Plus, be sure to order my book, The Mammoth in the Room, for a practical roadmap on how great leaders embrace evolutionary truth for outstanding business results.