A couple of things I remember from economics in college — Sunk cost & opportunity cost. And I’m using these two concepts to help me evaluate if I should quit Twitter from a monetary perspective. Bare with me as I do some math.
The amount of money a company/person is willing to pay me for my knowledge/skills/experience is $32/hr. Now, I spend roughly 2 hours a day reading and writing tweets on Twitter. So that’s equals $64 per day or $448 per week or $1792 per month or $21,504 per year. WOW. And I’ve been on Twitter almost 3 years. So the opportunity cost is around $64,000. That’s means I sacrificed the opportunity to go out and make $64,000 by being on Twitter. Ouch!
While I haven’t lost any real money, I have sunk over 2016 hours into Twitter (a very conservative estimate) and that means I’ve lost something of value. So I have to ask myself, honestly, what is the payoff/reward for continuing on Twitter?
What do you think I should do?