Posted on 07/08/2024 5:54:08 PM PDT by Libloather
Joe Biden’s self-inflicted electoral crisis is a classic case study in the “sunk cost fallacy.” As Vice President Kamala Harris and party leaders pour resources into the president’s flailing campaign, the argument that Biden is the only one who can defeat Donald Trump in November and “protect democracy” is increasingly falling on electoral and donor deaf ears.
Coined in 1980 by economist Richard Thaler, the sunk-cost fallacy describes a cognitive bias that leads people to double down on failed strategies in which they have invested time, resources and emotional energy.
Thaler used this concept to describe the irrational decisions that went into the failed multibillion-dollar effort in the 1960s and 1970s to build the supersonic Concorde jet. As an executive leadership coach to CEOs and founders, I have identified three lessons from Biden’s failure to ensure his party’s success in November and three tactical recommendations. Otherwise, he faces a serious risk: becoming the Concorde of politics.
There are three takeaways. First, it’s important for leaders in any field, be it business or politics, to build a succession plan and a deep bench should they get “hit by a bus,” literally or figuratively. They must train their successors assiduously and give them all their wisdom and knowledge to step in should the need arise. Above all, instead of constantly investing in themselves, they must get out of the spotlight and let those new leaders shine — something Biden has failed to do.
Next is an insight a former tech founder gave me when I entered the C-suite: “Understand that your biggest strengths could also be your biggest weaknesses. And you must compensate for that.”
In Biden’s case, his stubbornness and loyalty have helped him overcome tremendous odds in life and work, bounce back from tragedies, and build strong teams that...
(Excerpt) Read more at thehill.com ...
Also known as Gamblers Addiction.......
Another way to interpret what Biden is doing is to suppose that he realizes he is going to have to give in, but by being as stubborn as possible he forces the Democrats to keep sweetening the pot—so he goes away with more loot than he would have gotten.
Lol have to love these analyses.
Sure tis a sunk cost fallacy, but that doesn’t change the fact that the Democrats are changing a candidate after a primary and less than 2 months before a very late convention. And 4 months before the election.
They have little time to make a change.
There’s no doubt that Team Biden is doubling down. I’m now seeing all sorts of Biden ads on TV. There were none two weeks ago.
These aren’t generic “Vote Democrat” ads. The ads praise Joe Biden, and only Joe Biden.
I see it more as the escaped convicts are holed up with hostages, and they figure whether they surrender or go out in a blaze of glory, they have no choice. Hoping for that one in a million lucky break.
Jill is taking this ship down with her.
I truly think that woman is evil.
The flip side of the sunk cost fallacy is the grass is always greener.
In this case, post debate the odds on President Trump remained largely the same despite whether Brain Dead, Harris or Newsome was taking money as Dem nominee.
IMO It’s shaking out as President Trump vs the cheat and they could run an McD’s happy meal and it’s not going to matter in the expectations.
later
What a Chitty Rag!
From the laptop, Jill and Hunter have always been in on it together. And look who are together now in the White House, keeping Joe in the race.
LOL...how much wisdom and knowledge could Brandon impart to a successor? Another article said Harris has enough smarts to fill a thimble...with room left over.
Same for Brandon. He's always been a dull-witted, low-IQ, unlikeable, evil, mean, rotten SOB. But enough with his good points.
If Brandon imparted the smallest smidgeon of his wisdom and knowledge to anybody else, his head would...
Of chasing good money after bad.
Democrats won’t lose no matter who they run because of voter fraud. Without election integrity it’s over for us
Look at that! The Hill actually put "protect democracy" in quotation marks! The Hill!
and you know jill and hunter are swapping organ juice
Nice theory until......at which point I stopped reading.
“They (Biden) must train their successors assiduously and give them all their wisdom and knowledge to step in should the need arise”
From the article at link:
“First, he can’t insult his voters and base. Biden must acknowledge that he has worked hard to achieve all he has accomplished and that age and fatigue have caught up with him. He can then note that if he is old, so is Donald Trump, and that perhaps his opponent looks and feels healthier because he has not worked as hard or has accomplished as much. “
LOLOLOLOL!
And about as clueless as Joe Biden.
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