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Survivorship bias is a logical error that twists our understanding of the world and leads to a wrong understanding of cause and effect.
We fall into survivorship bias when we assume that suc...
When we only pay attention to the exception above the normal, we end up misunderstanding reality. While there is much to learn from the anomalies, it would be a mistake to expect the same results f...
Survivorship bias leads us to think that coincidence is a correlation. We want the encouragement from survivorship bias so we can believe in our own capabilities, but it results in an inflated idea...
Statistics of market performance can be distorted when they focus on the rare successes while excluding companies which collapse.
Business books laud the rule-breakers who ignore conventional...
Successful entrepreneurs teach us very little. We would do better by analyzing the causes of failure first and then the successes.
The huge failure rate for start-ups is often hidden. We will...
We can overcome survivorship bias by considering the things that started on the same path but didn't make it. Try and figure out why they failed. If you're going to do something, make sure yo...
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... specifically cognitive biases, are your unchecked tendencies to make decisions or take actions in an irrational way.
Instead of making decisions based on facts and data, you ...
The brain creates shortcuts in order to make fast decisions when it hits information or inspiration overload.
These shortcuts form unconscious biases so it’s easier for your brain to categorize information and make quick judgments over and over again.
This means that when something good happens, you take the credit, but when something bad happens, you blame it on external factors.
Self-serving bias may manifest at work when you receive critical feedback. Instead of keeping an open mind, you may put up a defense when your manager or team member is sharing feedback or constructive criticism.
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Underestimating the possibility of disasters occurring. Thus, they don’t have an urgency to prepare for the worst.
When disaster strikes, some people lose their heads, some...
If people don't know how to deal with a situation, they can't begin to deal with it, so they don't deal with it.
This is why we're given countless safety lectures. Look at the exits and plan your exit route. In the event of an earthquake, a fire, a flood, do this. Drills and practices, even if only done in a person's imagination, at least give them the basic tools that they need when dealing with an emergency.
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