As leaders, we’re wired to favor the familiar, but this can blind us to critical shifts in the market and the emergence of disruptive innovations. In today’s episode, we are talking about the confirming evidence trap—a bias that can skew even the sharpest minds, causing you to cling to beliefs and data that reinforce what you already think.

We’ll explore how this evolutionary shortcut leads to costly mistakes and why leaders must confront their assumptions to make better decisions. From Blackberry’s downfall to Nokia’s missed opportunity, we’ll dive into real-world examples of billion-dollar corporate disasters caused by the confirming evidence bias.

Tune in now to learn how to spot and outthink this bias. And if you’re ready to take your leadership to the next level, check out my book, The Mammoth in the Room, where I explore how evolutionary truths can guide better decisions in people, strategy, and implementation.

In this episode:

- Introduction to the confirming evidence trap

- The Blackberry downfall

- Confirming evidence traps in business: The market trap

- The New Coke Disaster case study

- The leadership trap: The Theranos scandal

- The hiring trap: Perfect resume illusion

- How to outthink the confirming evidence bias

Resources Mentioned in the Episode:

Harvard Business Review: The Hidden Traps in Decision Making, John S. Hammond, Ralph L. Keeney, and Howard Raiffa (September–October 1998)

https://hbr.org/1998/09/the-hidden-traps-in-decision-making-2

Tversky, A., & Kahneman, D. (1974). Judgment under Uncertainty: Heuristics and Biases. Science 185,1124-1131(1974). DOI:10.1126/science.185.4157.1124

https://www.science.org/doi/10.1126/science.185.4157.1124

Tversky, A., & Kahneman, D. (1981). The framing of decisions and the psychology of choice. Science, 211(4481), 453–458.

https://sites.stat.columbia.edu/gelman/surveys.course/TverskyKahneman1981.pdf

Get in Touch:

Website: https://www.mammothleadershipsciences.com

LinkedIn: https://www.linkedin.com/in/nicolaspokorny

YouTube: www.youtube.com/@MammothLeadershipSciences

In today’s episode, we uncover yet another dangerous psychological trap that keeps leaders pouring money and resources into failing projects—simply because they’ve already invested too much to walk away. I’m talking about the sunk cost fallacy.

Using examples from history, such as the Concorde jet, Quibi's billion-dollar flop, and Kodak's disastrous delay in embracing digital photography, we'll explore why leaders sometimes double down on doomed investments instead of cutting their losses. I'll also share actionable strategies to recognize and break free from this trap.

Don't let your past investments dictate your future. Tune in to learn how to make smarter decisions, avoid costly mistakes, and lead your business toward success. Plus, be sure to order my book, The Mammoth in the Room, for a practical roadmap on how great leaders embrace evolutionary truth for outstanding business results.

In this episode:

- Introduction to the sunk cost fallacy

- The Concorde: A case study of sunk costs

- The psychology behind the sunk cost fallacy

- Three dangerous sunk cost traps in business

- Three proven tips to escape the sunk cost trap

References:

Harvard Business Review: The Hidden Traps in Decision Making, John S. Hammond, Ralph L. Keeney, and Howard Raiffa (September–October 1998) https://hbr.org/1998/09/the-hidden-traps-in-decision-making-2

Tversky, A., & Kahneman, D. (1974). Judgment under Uncertainty: Heuristics and Biases. Science185,1124-1131(1974). DOI:10.1126/science.185.4157.1124 https://www.science.org/doi/10.1126/science.185.4157.1124

Tversky, A., & Kahneman, D. (1981). The framing of decisions and the psychology of choice. Science, 211(4481), 453–458.

https://www.jstor.org/stable/1685855

Get in Touch:

Website: https://www.mammothleadershipsciences.com

LinkedIn: https://www.linkedin.com/in/nicolaspokorny

YouTube: www.youtube.com/@MammothLeadershipSciences

What if I told you the biggest threat to your business isn’t the competition but your brain? Leaders make costly decisions daily because of one mind trap— the status quo bias. It’s the reason billion-dollar companies collapse, why once-great leaders fail to adapt, and why you might be unknowingly sabotaging your success.

So, today, I take you inside the shocking failures of Kodak, Blockbuster, and Microsoft— companies that refused to adapt, believing that what worked yesterday would work forever. I’ll show you how to spot the status quo bias in your leadership, why your brain resists necessary change, and three battle-tested strategies to break free and make bold, winning decisions.

Don’t let your brain run your business on autopilot. Hit play now for new insights on decision-making biases. And for a deeper dive, grab a copy of my book, The Mammoth in the Room, and discover how to outthink your instincts for exceptional business results.

In this episode:

- Introduction to the status quo bias

- The Kodak story: A giant that refused to move

- Understanding the status quo bias and its evolutionary roots

- Market shift trap: Blockbuster vs. Netflix

- Internal process trap: Microsoft's lost decade

- Personal career trap: Steve Ballmer and mobile revolution

- How to overcome the status quo bias

References:

Harvard Business Review: The Hidden Traps in Decision Making, John S. Hammond, Ralph L. Keeney, and Howard Raiffa (September–October 1998) https://hbr.org/1998/09/the-hidden-traps-in-decision-making-2

Tversky, A., & Kahneman, D. (1974). Judgment under Uncertainty: Heuristics and Biases. Science185,1124-1131(1974). DOI:10.1126/science.185.4157.1124 https://www.science.org/doi/10.1126/science.185.4157.1124

Tversky, A., & Kahneman, D. (1981). The framing of decisions and the psychology of choice. Science, 211(4481), 453–458.

https://www.jstor.org/stable/1685855

Get in Touch:

Website: https://www.mammothleadershipsciences.com

LinkedIn: https://www.linkedin.com/in/nicolaspokorny

YouTube: www.youtube.com/@MammothLeadershipSciences