How can a political fiasco help you make better profits?
Years ago there were some politicians who did something pretty stupid that toppled a president. They broke into the Watergate Hotel intending to steal records and install a wiretap and got caught.
To understand why they did this you need to know about what happened before that fateful night:
- They were worried about Nixon’s reelection chances.
- Someone submitted a plan to discredit the competition using wiretapping, kidnapping and call girls at a cost of $1 million. The plan was rejected.
- A smaller plan was submitted at a cost of $500,000. It was also rejected.
- A third plan, the smallest, with a cost of $250,000 was accepted.
- The only person to object to the decision hadn’t been present at the first two meetings.
What caused the politicians to accept the third plan even though it was still stupid and risky? It’s because of how people react to a persuasion technique called Read more ›