[ryandrake]

People forget that Survivorship Bias is real.

I’m reminded of the coin toss example in one of my college classes. Everyone in the class stood up and flipped a coin. If it was tails you lose and sit down. Flip again and again until there was only one person standing. Then the prof “interviewed” him to ask him how he became such a good heads-flipper and what advice he had for other aspiring heads-flippers.

Listening only to people who struck it rich in business is like getting lottery advice from only lottery winners.