Educator's Guide to Survivorship Bias

The Educator's Guide to Survivorship Bias explains how focusing only on successful cases can lead to misleading conclusions. For example, studying only the successful businesses or startups neglects those that failed, skewing perceptions of what’s needed for success. This bias occurs because the failures are often invisible or overlooked, causing us to underestimate risks or overestimate our chances of success. Recognizing survivorship bias helps us make more informed decisions by considering both successes and failures, leading to a more accurate understanding of reality rather than chasing only the visible outcomes of those who "survived."