Survivorship bias in business - Deepstash

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Survivorship bias in business

We must remember that most people do not become rich and famous. Most leaps of faiths are miscalculated. This does not mean that we should stop trying, instead we should remain to have a realistic understanding of reality.

Most entrepreneurs don't actually know what they're doing. There isn't a lot of them who have a detailed or a perfected plan to follow. Still, we try to "copy" their ways so that we can probably achieve what they have achieved.

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We tend to be interested in the success stories of many. We love the encouragement it provides us, but we often overlook the fact that most of these success stories have undergone through many failures.

Most of the inspirational success stories we see give out advice like waking up at 5 AM in the morning or eating a well-balanced meal. Those are important, but we should not overlook those who were unsuccessful.

When we ignore the logical error of the stories and advice we hear it deceives us into believing that past failures are not adequate enough to be considered.

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