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Sunk Costs

Last night I played poker at Bellagio in Las Vegas. At one point I got pocket queens, a tremendously good hand. The hand played as expected until the last card. I got raised by a mediocre player which meant that I could be assured that he had made his hand. I had hundreds of dollars in the pot, but I folded. The money was spent, and chasing after it wouldn't do me any good.

When I got home, I cleaned up my place and packed for my trip the next morning. Several months earlier I had used some airline points to book a round trip flight to Hong Kong. I stayed up late to get myself tired for the flight, and went to sleep.

The next morning I woke up to my alarm. I packed up my laptop, brushed my teeth, got dressed, and began to dial the number for the taxi company to take me to the airport. I paused for a minute and then put down the phone.

Why was I going to Hong Kong? I like Hong Kong a lot, especially this one teahouse in the park. And I had twelve hours in Seoul, which I was looking forward to. But beyond that, there was no reason to go. I was going by myself and had nothing planned. On the other hand, I had tons to do in Las Vegas. I'd finally gotten a stove, so I could complete the kitchen remodel I was working on. I had lots of regular work to do, too.

Hacking the Las Vegas Cab Line

On DROdio

To me, this is part of what being an entrepreneur is all about. Turning around in the taxi line, embarrassing yourself in front of hundreds of people, and seeing what happens. Often times, it's something good, because nobody else is willing to try it.

Here is a trasnscript of the video:

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