Saturday, September 7, 2013

Survivorship Bias

Coming courtesy of the You Are Not So Smart blog (which I have just discovered thanks to Boing Boing) : today's clever and funny article about success and failure . . . . .
Here's a meaty exerpt:

"If you spend your life only learning from survivors, buying books about successful people and poring over the history of companies that shook the planet, your knowledge of the world will be strongly biased and enormously incomplete.

As best I can tell, here is the trick: When looking for advice, you should look for what not to do, for what is missing as Phil Plait suggested, but don’t expect to find it among the quotes and biographical records of people whose signals rose above the noise. They may have no idea how or if they lucked up.
What you can’t see, and what they can’t see, is that the successful tend to make it more probable that unlikely events will happen to them while trying to steer themselves into the positive side of randomness. They stick with it, remaining open to better opportunities that may require abandoning their current paths, and that’s something you can start doing right now without reading a single self-help proverb, maxim, or aphorism.
Also, keep in mind that those who fail rarely get paid for advice on how not to fail, which is too bad because despite how it may seem, success boils down to serially avoiding catastrophic failure while routinely absorbing manageable damage."

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