Wirehead

The actual cost of the BP oil spill won't be known for quite some time. But it's clear that it was big and is ruining a lot of people's fun. Unlike the Exxon Valdez in areas of reduced population, we've got oil washing up on prime beaches...

Five random things on my brain last week.

Five random things on my brain last week.

Five random things on my brain last week.

One of the basic lessons that they teach in places like business schools and need to spend a lot of time hammering into your head... because it feels so unnatural... is the sunk costs fallacy. Emotionally, we hate throwing out something we spent good money on. But sunk costs are gone forever, the only thing that matters are the costs in front of you.