Sunk costs as gifts from our past selves

I don’t remember where I came across a recommendation to listen to Seth Godin’s podcast, Akimbo, but I’m glad I did. I really enjoy his episodes. The first one I listened to is titled “Ignore Sunk Costs”.

He talks about sunk costs as gifts from our past selves, and it’s up to you to decide whether to continue using this gift, or to decline it and embrace a new set of possibilities. I like his example of having invested in years of study at law school, followed by years of practice as one such sunk cost.

If you decide that being a lawyer is no longer for you, it’s up to you to stop using that “gift” of that education and work experience, and embrace something new. I feel like I had a similar choice when we moved to Israel, even though I didn’t think about it quite in these terms.

This is a great podcast to subscribe to, if you’re interested in different perspectives on challenges you may be facing. Plus, I really like how he has a featured non-profit segment in his shows.