Source | Business Insider : By Jamie Kingsbery, ChubbyBrain
We love a good entrepreneurial success story — entrepreneur as protagonist overcomes obstacles and builds a thriving, successful company (and become wealthy while doing so). We want to hear about, learn from and even replicate what they’ve done.
However, this survivorship bias is problematic. Jason Cohen of Smart Bear Software does a nice job articulating this issue stating:
“The fact that you are learning only from success is a deeper problem than you imagine … drawing conclusions only from data that is available or convenient and thus systematically biasing your results.”
Luckily, the startup community often courageously shares their stories — even when things don’t end well.