this post was submitted on 04 Aug 2023
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Loss in terms of money or efforts. Could be recent or ancient.

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[–] [email protected] 180 points 1 year ago (7 children)

China's Four Pests campaign is a great example. As the campaign says, China had a bit of a pest problem. One of these particular pests was the sparrow. The government decided it would be a great idea to launch an "exterminate sparrows" campaign. The only problem was sparrows ate other pests such as bedbugs and locusts.

In short, they sucessfully curbed the "sparrow problem" and replaced it with a "locusts and bedbugs problem". This ultimately upset the ecological balance and further lowered the rice yields. It was a complete disaster

[–] [email protected] 35 points 1 year ago (1 children)

Sounds exactly like a China thing.

[–] [email protected] 21 points 1 year ago (2 children)

I bet lemmygrad would explain how it was actually a good thing, especially for the sparrows.

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[–] [email protected] 30 points 1 year ago (4 children)

One of the best examples of unintended consequences, aiding in one of the largest human caused disasters.

https://en.wikipedia.org/wiki/Great_Chinese_Famine

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[–] Noughmad 24 points 1 year ago* (last edited 1 year ago)

The great leap forward was such a colossal clusterfuck that you can't blame it on any one thing (although most of them would be prevented without the authoritarianism). Literally everything was wrong. Sparrows, lysenkoism, forced collectivization (basically, and perhaps ironically, farmers not owning the means of production), Mao just being evil, backyard burners, rigid chain of command that gave the chairman absolute authority but at the same prevented him from knowing what was going on, everything.

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[–] [email protected] 169 points 1 year ago* (last edited 1 year ago) (1 children)

Brexit. As historical blunders go, this has a beautiful unambiguous purity.

[–] [email protected] 23 points 1 year ago (1 children)

I agree, but unlike usual blunders this was very much planned!

[–] [email protected] 35 points 1 year ago* (last edited 1 year ago) (7 children)

Once the campaigns were underway, yes. But the opportunity came from a huge blunder by David Cameron. He called the referendum expecting an easy win for the remain side that would silence the anti-EU faction in his party and shore up his position as PM. Instead, the anti-EU faction won, prompting his own resignation and causing damage to the UK's economy, a loss of global influence, the loss of British people's right to live and work in the EU, and reopening difficult issues in Northern Ireland that had been laid to rest for years. It also arguably sped up the Conservative Party's lurch to the right and its embrace of UKIP-like policies, disempowering Conservative moderates and leading to the spiral of ever less competent governments we have seen since then. In particular, Boris Johnson's rise was a direct result of post-referendum power games among Conservative politicians.

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[–] [email protected] 104 points 1 year ago* (last edited 1 year ago) (4 children)

We’ll there was that time Kublai Khan tried to invade Japan with the largest amphibious assault in history (until D-day) and got absolutely wrecked by a typhoon.

Then tried again a few years later, with an even larger force, and got wrecked by another typhoon.

https://en.wikipedia.org/wiki/Mongol_invasions_of_Japan

[–] [email protected] 44 points 1 year ago (1 children)

You can't leave aside the fact that those typhoons were called "Divine Winds", or kamikaze.

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[–] [email protected] 98 points 1 year ago (2 children)
[–] [email protected] 20 points 1 year ago (2 children)

The Las Vegas Loop.

(known on dictionaries as a tunnel)

And nobody have died there yet.

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[–] [email protected] 84 points 1 year ago (4 children)

Do you guys remember that time u/Spez took the reddit API away from third party apps?

[–] [email protected] 20 points 1 year ago (2 children)

Unfortunately most reddit users didn't even notice. Or just don't care.

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[–] [email protected] 83 points 1 year ago (4 children)

World War I didn't do anyone any good whatsoever; including any of the various parties that might be blamed for starting it.

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[–] [email protected] 83 points 1 year ago (1 children)

King Pyrrhus of Epirus. He was known for winning battles against superior armies, at the cost of taking heavy losses. He was once quoted as saying "If we are victorious in one more battle with the Romans, we shall be utterly ruined."

He was so famous for this, that the term for a victory that devastates the victor bears his name, a Pyrrhic victory.

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[–] [email protected] 82 points 1 year ago (6 children)

Napoleon's invasion of Russia. It led what might be the first great infographic ever though. Charles Minard’s Infographic of Napoleon’s Invasion of Russia from 1869 (Carte figurative des pertes successives en hommes de l’ArmΓ©e franΓ§aise dans la campagne de Russie en 1812-1813)

Tan colour line from left to right is the trip from France to Moscow, 1mm line weight = 6000 soldiers, black colour line from right to left is the trip back to France. The line slowly thins and diverges like a tree branch until 422k soldiers are whittled down to 10k returning. Not quite the outcome Napoleon had intended.

[–] [email protected] 22 points 1 year ago

Also the temperature at the bottom showing how cold it was on the way back. It explains why everyone died in the river.

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[–] [email protected] 78 points 1 year ago (4 children)

When the Spanish were raping the New World in the 1500s for gold, they dumped enormous quantities of platinum into the ocean because it was the wrong kind of shiny metal. Nobody in Europe had any clue how valuable the stuff was, only that it was often used to counterfeit gold. But since it wasn't gold, or even silver, everyone thought it was worthless. This was exasperated by the fact that nobody could melt the stuff until the 1800s. But mostly it was just not yellow enough for the idiots at the time.

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[–] [email protected] 77 points 1 year ago (4 children)

Knight Capital - They were biggest equities trader in 2012. They manually deployed code and didn't get configuration right and it reactivated "Powder Peg". They lost $460 M in 45 minutes and went bankrupt.

[–] [email protected] 36 points 1 year ago (1 children)

The program was called "Power Peg" for those googling for it. It was a test program not intended to be used on the live market.

The Power Peg program was designed to buy a stock at its ask price, and then immediately sell it again at the bid price, losing the value of the spread.

The Worst Computer Bugs in History: Losing $460m in 45 minutes

[–] [email protected] 24 points 1 year ago

I get the impression that power peg is a risky google.

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[–] [email protected] 67 points 1 year ago (1 children)

The Jan. 6th insurrectionists who thought Trump was going to pardon them all because they were heroes.

[–] [email protected] 24 points 1 year ago (2 children)

Or that they were doing the middle class any favors by fucking up the nation's credit score (as it were) with their smooth-brain fuckery. πŸ€¦πŸΌβ€β™‚οΈ

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[–] [email protected] 64 points 1 year ago (3 children)

Buying Twitter for 44B and renaming it to X.

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[–] [email protected] 61 points 1 year ago* (last edited 1 year ago) (1 children)

Since December 1982, the O-rings had been designated a β€œCriticality 1β€³ item by NASA, denoting a component without a backup, whose failure would result in the loss of the shuttle and its crew.

Richard Feynman[:] β€œβ€¦ [the shuttle] flies [with O-ring erosion] and nothing happens. Then it is suggested, therefore, that the risk is no longer so high for the next flights. We can lower our standards a little bit because we got away with it last time. You got away with it, but it shouldn’t be done over and over again like that.”

Taken from an excellent writeup of the fatal 1986 Challenger flight.

[–] [email protected] 35 points 1 year ago (1 children)

Never forget that Reagan heavily pressured them to not delay for political reasons

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[–] [email protected] 61 points 1 year ago* (last edited 1 year ago) (11 children)

Elon acquiring Twitter for $44B in the first place, not taking into account the subsequent blunders. He not only overpaid too much for a social media company without even understanding it, he also wrecked Tesla's stock price as investors saw he was clearly spending too much time on Twitter and he had to panic sell Tesla shares to fund his Twitter adventure. He easily wiped out hundreds of billions from Tesla's market cap during that time.

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[–] [email protected] 57 points 1 year ago (5 children)

Chernobyl comes to mind as the biggest fuck up ever. Whenever I think I fucked up I try to remember, it can never be as bad as Chernobyl.

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[–] [email protected] 56 points 1 year ago (2 children)

The Gunpowder Plot. Guy Fawkes and his friends were about to blow up parliament, and on the week it was supposed to happen, one of his accomplices sent a letter to a noble. In what was probably the worst example of "asking for a friend" in history, it asked "hypothetically, what would happen if someone went into the basement and blew up parliament". The noble did what nobody expected he would do and, get this, responded to the letter. People searched the palace basement and found Guy Fawkes, he was arrested and killed, and we have Guy Fawkes Day. The reason this led to a loss is because the king of England at the time used it as an excuse to persecute Catholics and make the holiday which is used as a taunt.

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[–] [email protected] 52 points 1 year ago (8 children)

Russia invasion of Ukraine. They used to be number 2 army with sophisticated weapons. Now they are number 1 world laughing stock with weapons that works exceptionally well for invading Mars but not on earth.

[–] [email protected] 54 points 1 year ago (1 children)

As they say, from number 2 army in the world to number 2 army in Ukraine.

Now with a risk of becoming number 2 army in Russia...

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[–] [email protected] 36 points 1 year ago (1 children)

Didn't really result in a loss, but a huge missed opportunity, when AT&T turned down an offer for them to purchase the early internet.

[–] [email protected] 22 points 1 year ago (4 children)

At least something we can all cheer about :)

This also reminds me of Yahoo turning down the offer to buy Google in their early stage! https://finance.yahoo.com/news/remember-yahoo-turned-down-1-132805083.html

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[–] [email protected] 33 points 1 year ago (2 children)

I'm willing to nominate Charles II, King of Spain as a formerly alive blunder. The result of decades of Hapsburg inbreeding, he had a number of health and intellectual issues from birth and he was notably infertile. If you live in a monarchy where succession is passed down through children, it's REALLY BAD to be infertile and be King. His death directly caused the War of the Spanish Succession, a 13-and-a-half year war that eventually involved pretty much all of western Europe and likely led to the deaths of over 1 million people.

Literally could have avoided this if the Habsburgs decided to have sex with other people.

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[–] [email protected] 33 points 1 year ago

Well, Russia, in 2022...

[–] [email protected] 32 points 1 year ago (5 children)

Target's failed expansion into Canada. It's taught as a case study on what not to do in business schools now.

[–] [email protected] 22 points 1 year ago (5 children)

Walmart's attempt to break into the German market is hilarious

Burger King tried to open up in France and literally nobody would eat their muck. So when McDonald's tried, they had to completely change their menu and service style. Hence, "McDo's" in France is actually quite good

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[–] [email protected] 31 points 1 year ago* (last edited 1 year ago) (3 children)

In terms of money and business, my fav is how Xerox didn't know how to market/capitalize on what was effectively the first personal computer before personal computers were even a concept, which is estimated to be a $1.4 trillion mistake.

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[–] [email protected] 27 points 1 year ago* (last edited 1 year ago)

Long-Term Capital Management was a hedge fund founded in 1994 that had notable academics and Nobel Prize winners on its board. It was very successful in the early years (while critics warned of the risks) and eventually collapsed in 1998, losing $4.6 billion in a matter of months due to its leverage and impacts of currency crises. The US government stepped in to shore up the financial system. It's taught as a case study in how a strategy can post impressive returns but quickly turn into a wipeout.

[–] [email protected] 21 points 1 year ago (2 children)

The first thing that came to mind, oddly enough, was Blockbuster refusing to buy Netflix for the equivalent of a rat and a string to swing it with.

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[–] [email protected] 21 points 1 year ago

Scotland trying to colonize the Darien gap It bankrupted Scotland and forced the union of England and Scotland to be the UK.

[–] [email protected] 21 points 1 year ago (4 children)

Coming down from the trees was a pretty big blunder. Nothing but losses ever since.

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[–] [email protected] 20 points 1 year ago (1 children)

The Battle of Manzikert led directly to the end of the Roman Empire, all because of mismanagement.

[–] [email protected] 39 points 1 year ago (2 children)

Battle of Manzikert

If I saved one person the 4 calories worth of finger movements required to open a new tab and Google this themselves then I'll go to sleep happy.

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