3 ms·
>We know that studying hard does not guarantee success and what the level of risk is. That's exactly my point even though the survivorship bias is higher or lo
by max_ 3y ago
>We know that studying hard does not guarantee success and what the level of risk is.
That's exactly my point even though the survivorship bias is higher or lower.
We shouldn't discredit advice from successful people on the grounds of survivaship bias. We should only discredit advice on grounds of merit.
- graemep 3y agoThere is a subtle distinction you are missing. The advice may have merit, but survivourship bias means it is not more credible because it comes from someone successful than the same advice from a random person.
- max_ 3y agoSo if you have three people. A) One that runs a successful business. B) One that ran a business but it failed. C) One that have never run a business (my 5 year old). Of A, B & C your only allowed to choose advice from one. Your saying it would not matter from which one you choose to get your advice from?