The unifying characteristic of the many specific biases and cognitive illusions Kahneman discusses is that System 2 systematically defers to System 1 to avoid d

The unifying characteristic of the many specific biases and cognitive illusions Kahneman discusses is that System 2 systematically defers to System 1 to avoid doing work. I appreciate your point that Graham's specific claim is not substantiated by direct experimental evidence, but I think it's likely that the task of picking a business idea is subject to the same biases as any other task. It's certainly not as ludicrous a suggestion as you're making it out to be.