3 ms·

Survivorship bias.

• torstenvl 9y ago
  You seem to have a very flawed concept of what the word "bias" means.
  • Houshalter 9y ago
    How? This is straightforward survivorship bias. The first examples of big companies that come to your head are always going to be ones that were lucky and survived by pure chance. You are much less likely to remember or hear about the unlucky ones that aren't around anymore.
    • torstenvl 9y ago
      Because the word "bias" pertains to whether a sample is representative or not. It has to do with probabilities. GGGP isn't saying that long-term successful outcomes are the probable or most likely result of being large at one point in history, so your criticism is inapposite. What he's saying is that, contrary to the OP's seeming position, a paradigm shift isn't always fatal to established players, i.e., "doom articles are a dime a dozen."