I think this post would have been a lot more interesting if Eliezer had used it to explain the sunk cost fallacy, which is generally the reason that people don't want to give up on ventures like this even if they've already lost a lot of money. Still, it was a decent post and I liked the fact that it was short and to the point.
the sunk cost fallacy, which is generally the reason that people don't want to give up on ventures like this even if they've already lost a lot of money.
Another important motivation is fear of loss of face.
Today's post, Just Lose Hope Already, was originally published on 25 February 2007. A summary (taken from the LW wiki):
Discuss the post here (rather than in the comments to the original post).
This post is part of the Rerunning the Sequences series, where we'll be going through Eliezer Yudkowsky's old posts in order so that people who are interested can (re-)read and discuss them. The previous post was Politics is the Mind-Killer, and you can use the sequence_reruns tag or rss feed to follow the rest of the series.
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