“We don’t realize how likely it is for companies to fail because we mostly read about the ones that have crazy amounts of success. This blindspot gives us the impression that if you start an app that the kids will love, then you’ll be turning down billions from Facebook any day now. According to David McRaney, the brilliant curmudgeon behind You Are Not So Smart, this blind optimism is called survivorship bias. In this way, he says, dreams of Silicon Valley are similar to dreams of Hollywood.”
Sometimes “fail fast” really just means failure. Here are three reasons we don’t always realize that we might be setting ourselves up to be let down.