plzz explain penny wise, pound foolish
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Penny Wise, Pound Foolish
There is a British saying I always loved, “penny wise, pound foolish.” I took it to mean, “making decisions with small amounts of money (pennies) that end up making bad sense for affecting larger amounts of money (pounds, as in Great British Pounds).” I thought of it as people who cut corners on small costs but paid dearly in terms of lost productivity on expensive staff. Penny wise, pound foolish. I love this saying and what it implies and I use it often. Startups often make this mistake.
There is a British saying I always loved, “penny wise, pound foolish.” I took it to mean, “making decisions with small amounts of money (pennies) that end up making bad sense for affecting larger amounts of money (pounds, as in Great British Pounds).” I thought of it as people who cut corners on small costs but paid dearly in terms of lost productivity on expensive staff. Penny wise, pound foolish. I love this saying and what it implies and I use it often. Startups often make this mistake.
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