Not sure yet what I will write on here. Probably something about Sports, Reading or Data Science
Emotional Sunk Costs
Some of you might be familiar with the concept of sunk costs in the context of economics or business. What it means is that once some investments are made and you can’t get them back these costs shouldn’t affect your decisions anymore. In practice this means, just because you already invested 100 000 € in a failing company that doesn’t justify investing more and more money in it. It’s rational to decide if it makes sense to invest in the company independently if you invested in it before or not.
What riding my bike taught me about life
Cycling is beneficial for you, me and everyone in many different ways. When you google why cycling is good for you, you would probably find a lot of health benefits, benefits from being outside and benefits for the environment. These are all very cool for your body and the planet but not what this article is about. The lessons that cycling taught me is more of psychological nature. So without further ado let’s jump into it.
Why you should pick the truth you like best but don't lie
Imagine that you come in in position 43 out of 200 in a race you did. It is true to say that 20% of the participants have been better than you. It is also true that you have been beaten by 42 people. At the same time, though, it is true that you have beaten 75% of people and that you were better than 157 people.