Nobody studies the failures

comment:

No one really knows why they succeed. Is it luck, then?

The main idea expressed here is that nobody studies the causes of failure, they only study successes. But successes don't tell the whole story.

Published on Zero Hedge (http://www.zerohedge.com)

Home > Guest Post: The Unknown Unknowns And Survivor Bias

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Guest Post: The Unknown Unknowns And Survivor Bias

By Tyler Durden

Created 06/16/2013 - 18:31

Survivorship bias helps us understand why success stories are not what actually helps us succeed. We know that we learn from mistakes and failures, yet the study of failure is never recorded or saved unless the company or individual "came back from the dead," for example, Apple after Steve Jobs returned to lead the company from the abyss in 1996. Survivorship bias is a profound insight into how we confuse the known unknowns and the unknown unknowns.

• Apple
• Fail
• Guest Post
• Steve Jobs

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Source URL: http://www.zerohedge.com/news/2013-06-16/guest-post-unknown-unknowns-and-survivor-bias