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> Yet, this team is one of the few that have succeeded at all of these challenges before. Don't underestimate luck, it causes you to overestimate your own abil
by naasking 4y ago
> Yet, this team is one of the few that have succeeded at all of these challenges before.
Don't underestimate luck, it causes you to overestimate your own abilities. Thousands of other startups with seemingly great ideas, equally smart founders and equally "sound" business plans all failed. Some of the survivors of these competitions will have won due to their savvy, but plenty will have won from sheer dumb luck (survivorship bias).
- size12font 4y agoDon't under estimate all the bad luck that happened to them as well. Your point is 100% valid all those startups look great on paper and fail. That also means startups that do NOT sound sound might be the next big thing.
- naasking 4y agoAgreed! That's why we have the saying of something being "ahead of its time", an idea that failed at its time but later succeeded when circumstances were more favourable.