Not my money any more: Lessons from poker (2010)
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Not my money any more: Lessons from poker (2010)
1–10 of 18 posts
Re: Not my money any more: Lessons from poker (2010)
#2Nice article, fun to read, I nearly gave up at 3/4 but the sunk cost fallacy took me to the end and I’m glad it did as I enjoyed the reference back to poker. The gem in this article for me was the part about it being more valuable to wind back to the last green the more you have pressed on. I’ll take that thought with me!
Re: Not my money any more: Lessons from poker (2010)
#3Yes, I have to always remember the sink cost fallacy… but remember it can also motivate you to continue on when times are tough so that you do not give up
Re: Not my money any more: Lessons from poker (2010)
#4This person needs to make small git commits as they refactor, and use git bisect to find which one broke the test, then fix it and squash that fix into that commit with interactive rebase ...
Time is not like money in that no time that elapses is ever yours to get back. Whereas sometimes money that leaves your hands is actually still yours.
Giving up on a refactoring because of some failed tests could be wasteful.
How much time you put into the refactoring already should enter into your decision making because if you throw it away, you may have to put in a comparable amount of time to redo the job.
If you've sprayed 15 coats of lacquer on a piano and a fly lands into your 16th one, do you strip it and start again, or just sand out the blemish and keep going? What if it's half a coat on a ukulele?
Re: Not my money any more: Lessons from poker (2010)
#5Anyone else notice the mangled fingers in the AI generated image up top?
Re: Not my money any more: Lessons from poker (2010)
#6Anyone else notice the mangled fingers in the AI generated image up top?
yep it immediately caught my attention
Re: Not my money any more: Lessons from poker (2010)
#7Yes, I have to always remember the sink cost fallacy… but remember it can also motivate you to continue on when times are tough so that you do not give up
Bathroom repairs are always more expensive than you'd think, it is indeed a fallacy!
Re: Not my money any more: Lessons from poker (2010)
#8When Kent recently gave a talk at Plato's Elevate Conference, he was asked: "What is the thing you enjoy where you completely lose track of time?" He said "Poker." without a second of hesitation. He clearly loves the game to come up in his writing.
Re: Not my money any more: Lessons from poker (2010)
#9Re: Not my money any more: Lessons from poker (2010)
#10This person needs to make small git commits as they refactor, and use git bisect to find which one broke the test, then fix it and squash that fix into that commit with interactive rebase ... Time is not like money in that no time that elapses is ever yours to get back. Whereas sometimes money that leaves your hands is actually still yours. Giving up on a refactoring because of some failed tests could be wasteful. Ho…
The answer to the last question is what the sunk cost fallacy is all about, the answer is it doesn't matter what you've already done, it only matters what is the optimal solution going forward.
And "this person" is https://en.wikipedia.org/wiki/Kent_Beck btw.