read early amazon shareholder reports. contain none of these. the leaders that matter talk about the product 5-8 years from the time of writing. what differentiates a CEO from a leader
Survivorship bias is taking positive outcomes from existing sources without considering all the failures that went through similar processes but have nothing to show for it. Survivorship bias underscores exactly why imitating successful people/companies may not be in the best interest of the imitator.
Many startups likely downplay financials and instead focus on future innovation in their statements...that makes sense...but from an investor perspective if you are years into development and still not seeing financials that are consistent, that is a huge red flag.
