25: Survivorship Bias: 6 Reasons We Misinterpret Success And Misunderstand Reality

Future Skills

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6y ago 18:54

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In Survivorship Bias we go over 6 practical tips:

(1) Remind yourself of the concept of Survivorship Bias. It's very tricky and

(2) it's only becoming "stronger" due to social media and network effects

(3) Train yourself to be more Contrarian/Stoic, and less pop-culture,

(4) Acknowledge success is often the result of a complex combo of things

(5) avoid unrealistic expectations, like comparing yourself to 20-year old billionaires whos success you *don't understand* and

(6) Choose whom to follow/study/learn from with some caution - some industry leaders are very very very far removed from the basics. You might be better off studying someone just a few years ahead of you.

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