BuddingFarmer

BuddingFarmer t1_j3q1joo wrote

Imagine a company made 5000 cast iron pans. In that 5000,many had flaws but a few were near perfect and didn't break over the next 100 years. Only 5 of them still exist unbroken, but no one thinks about the broken ones. So when someone shows off their 100 year old pan, they say that new stuff isn't made to last 100 years anymore. However the truth is that 99.9% of those pans weren't made to last 100 years, they just got lucky with the one that survived.

That's survivorship bias.

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