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by WWKong 3509 days ago
The lottery example is fantastic to explain the misplaced expectation of startups. Indeed if we take a results of lottery winners (Jobs, Gates, Musk etc.) and work backwards on how they got rich, it will point to, "aggressively play lottery".
1 comments

Right, but at the same time every lottery winner purchased a lottery ticket. If you just say "survivorship bias" and never buy a lottery ticket then you will never win the lottery. My personal goal in life is to play the (metaphorical) lottery as much as I can, within reason. E.g. I'm not mortgaging my house to throw money after my buddy's 'Uber for Planting trees' idea.
Play the lottery, but accept that you could do so for thousands of lifetimes before you win, and unfortunately, you only get the one lifetime.