A Stop-Loss for Hiring Decisions: Escalation of Commitment, Everest 1996's Turnaround Rule, and Kill Criteria Set on Hiring Day
Escalation of commitment has been documented since 1976; on Everest in 1996, the rule was called the '2pm turnaround,' and both experienced expedition leaders broke their own rule and died. Founders do the same thing every quarter, just slower. The 'Averaging Down on a Person' mechanism, and the firing kill-criteria card: how to exit before the cash register decides for you.