How Survivorship Bias Tricks Entrepreneurs

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Last month, Bill Gates revealed his favorite business book. Business Adventures, a formerly out-of-print collection of New Yorker essays by the late journalist John Brooks, chronicles business lessons learned, including Ford Motor’s Edsel flop and Xerox’s failure to capitalize on its own research and development. “Brooks didn’t boil his work down into pat how-to lessons or simplistic explanations for success,” Gates noted.

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