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I'm looking for an anecdote about sunk costs. Two executives were discussing some bad business situation, one of them asks "look, suppose the board were to fire us and bring new execs in. What would those guys do?" "Get us out of the X business" "Then what's to stop us from leaving the room, coming back in, and doing exactly that?"
...but all my google-fu can't turn up the original source. Does it sound familiar to anyone here?
Intel, 1985.