It's not masquerading as a strategy, it is a strategy. There's no "bias" - the fact that the same strategy was employed by a lot of companies that didn't survi

It's not masquerading as a strategy, it is a strategy. There's no "bias" - the fact that the same strategy was employed by a lot of companies that didn't survive doesn't make it a bad strategy, since the whole point of the strategy is to optimize for a small probability of massive success.