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Survivorship bias: Don't just depend on the success stories. We must consider failures in our efforts to understand what works. Take risks. Explore the unexplored.

from 9GAG

When I saw that the Reading Rainbow Kickstarter hit $1 million in less than a day

One of my top 3 favorite Data moments in TNG. From S2E2 "The Royale". #startrek #data #fistpump #favemoments #winning

from JournalCetera

Craps against the high-rolling dark siders

A little over a week after Putin rolled the dice in Crimea it is beginning to look, at least politically, as if it may just pay off. Did he bank on the West's complacency and disarray? Did he realize that we would not go to war over this? Did he read our weakness? If so, it was a masterful play....

Survivorship Bias: studying successes, when the critical learning comes from failures. (This is why venture capitalists value failure.) EXAMPLE: WWII bomber armor placement: The holes in the surviving planes reveal the locations that needed the least additional armor. Look at where the survivors are unharmed, he said, and that’s where the bombers are most vulnerable; that’s probably where the planes that didn’t make it back were hit.

The Misconception: You should focus on the successful if you wish to become successful. The Truth: When failure becomes invisible, the difference between failure and success may also become invisib...

YANSS 065 – Survivorship Bias (rebroadcast)