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Basic lesson of statistics: If you have one roll of the die statistics don't matter. Seriously, the individual context of your situation weighs much much highe
by erikb 8y ago
Basic lesson of statistics: If you have one roll of the die statistics don't matter.
Seriously, the individual context of your situation weighs much much higher. I would only use advise in situations where I have zero ideas what to do next, and then only to start brainstorming.
Sometimes you have to do things that might even seem weird to other people. But always remember that other people are there to achieve their own goals, not yours. Even your parents might have goals that are competing with yours. E.g. they want you to be financially save because if you're not then they might need to take care of you again.
- raverbashing 8y agoMore importantly, the common repeated fact that "x% of startups fail" means little. It's not a die roll. It's more like hundreds of separate die rolls with their own different probabilities and outcomes. It's how good the team is, he good you are at several different competencies (including toilet cleaning) and if your idea of an Uber for hair extensions is the hottest new thing or just dead in the water. This, in the end, approximates a continuous distribution.