author (born 1977)
Greg McKeown, (born in London, England, in 1977) is a public speaker, business thought leader, consultant, and a New York Times and Wall Street Journal best-selling author. He is also the founder and CEO of THIS, Inc., a leadership and strategy design agency in Silicon Valley. McKeown is a popular blogger for the Harvard Business Review and LinkedIn’s Influencers group, and his writing has appeared in, or been covered by, Fast Company, Fortune, HuffPost, Politico, and Inc. Magazine.
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Why are adults so much more vulnerable to the sunk-cost bias than young children? The answer, he believes, is a lifetime of exposure to the “Don’t waste” rule, so that by the time we are adults we are trained to avoid appearing wasteful, even to ourselves.8 “Abandoning a project that you’ve invested a lot in feels like you’ve wasted everything, and waste is something we’re told to avoid,” Arkes said.9
Simply having an understanding up front about what we were really trying to achieve and what our boundaries were kept us from wasting each other’s time, saddling each other with burdensome requests, and distracting each other from the things that were essential to us. As a result, we were each able to make our highest level of contribution on the project – and we got along famously, despite our differences, throughout the process. With practice, enforcing your limits will become easier and easier.
In that instant,” Ephron recalls, “I realized that journalism was not just about regurgitating the facts but about figuring out the point. It wasn’t enough to know the who, what, when, and where; you had to understand what it meant. And why it mattered.” Ephron added, “He taught me something that works just as well in life as it does in journalism.