> There was an economist once early in my career who said to me, “You know, if you’re right, what am I supposed to do? What I know how to do is solve optimization problems.”
A career economist not wanting to change their ways because they have spent a career doing things when presented with a possible outcome that maybe those things didn't matter as much. Also:
> If you think of companies that have come and gone, like Kodak, which invented the digital camera, but they had an almost-monopoly in film, and didn’t really think this digital thing would go anywhere. Blockbuster Video, which came along and put tens of thousands of mom-and-pop video stores out of business, only to be put out of business by Netflix.
These are human behaviors to recognize - sunk cost. It can sink a company. Something to be wary of as a startup grows past adolescence and into adulthood.