![]() The result? According to the researchers behind “ Success stories cause false beliefs about success,” such non-representative sampling and explanatory cherry-picking means that “almost any feature of interest can appear to be associated with success” as long as there exist at least some examples of such an association. Moreover, attempts to decipher what makes companies successful based on these examples are similarly skewed explanations often highlight certain shared traits of successful companies while ignoring others, or turn a blind eye to the unsuccessful companies which exhibit the same “successful” traits. For instance, disproportionate attention is placed on wildly successful “unicorn” companies, while the far greater number of unsuccessful companies often goes unaccounted for. ![]() However, the types of success stories which gain traction are fraught with bias. ![]() This work shows that it is possible to lead people to unwarranted conclusions using manipulation that would easily pass a fact check - and that being aware of the information's bias is not enough to offset these effects.ĭime-a-dozen explanations of what makes companies successful are not new-these narratives have enjoyed a rich history of exploration in both academic and popular presses.Simply showing outlier examples of success substantially affected participants' beliefs about what makes a company successful.Researchers examined how hearing business success stories skews their guesses about how successful other startups will be in the future.
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