It’s a pet project. But you have to know when to kill it
by KATE ROCKWOOD
Aug 01, 2017
3 minutes
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NO ONE LAUNCHES AN INITIATIVE assuming it’s going to fail. “We start with truly high hopes for any project,” says Meir Statman, a professor of finance at Santa Clara University and author of Finance for Normal People. “But then things happen.” The market shifts, a rival crowds you out, or some minor-seeming tech hurdle reveals its Gordian-knot nature. But that doesn’t mean it’s easy to just walk away. “It’s very hard psychologically for people to let go of sunk costs,” Statman says. “As long as a project’s
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