Snowflake has created the ability to scale upon scale upon scale, and has added new programmability features to enable a whole new breed of data services.
Have you ever had a teacher who was very smart, but also terrible at actual teaching? An expert who used so much jargon you could not quite follow their explanation? This is called the “curse of knowledge”, a term coined in 1989 by economists Colin Camerer, George Loewenstein, and Martin Weber. It’s a cognitive bias ... Read More
Illusory correlations: how to identify your hidden assumptions
When I was a kid, I used to think I was doing much better at tests when using a particular pencil my sister had gifted me. So I would make sure to use this pen for every test. I have a friend who thinks that city people are generally rude. So when he meets a ... Read More
Cognitive biases in entrepreneurship: a research report
Scenario 1 – Joe and Jane decided to play a game in which they toss a coin a few times. Every time a head came up, Joe had to give Jane $10 and every time a tail came up, Jane had to give Joe $10. They could toss the coin any number of times they ... Read More
Why do ignorant folks tend to overestimate the extent of their knowledge? How do incompetent people often seem to be unaware of how deficient their expertise is? Turns out, we are not very good at evaluating ourselves accurately. And one of the most obvious manifestations of this psychological deficiency is the Dunning–Kruger effect, the cognitive ... Read More
How to practice nuanced thinking and avoid polarized thinking
“This is just wrong.” How many times have you heard that phrase during a heated conversation? Such categorical statements never seem to help in coming to an agreement, or at least to create opportunities to learn. Whether at an interpersonal level or at a broader scale, a lack of nuanced thinking can have a significant ... Read More
Survivorship bias is a common bias that leads to false conclusions by focusing on the elements that made it past a selection process, and overlooking the ones that did not.
Historians and physicians alike are constantly fighting an invisible beast: the hindsight bias, also known as creeping determinism, which is the tendency for people to perceive past outcomes as having been more predictable than they actually were. Linked to distortions of our memories, the hindsight bias causes us to think we knew how an event ... Read More
Jumping to conclusions: the inference-observation confusion
The psychological term for jumping to conclusions is “inference-observation confusion”, which is when people make an inference but fail to label it as one.
Exaggeration: why we make a mountain out of a molehill
Overreacting, catastrophizing, maximizing, overplaying… We have many words for exaggeration. However, all exaggeration mostly falls under three categories.
Memory bias: how selective recall can impact your memories
How many times have you forgotten where you left your keys? What about your friend who always seems to make up events that never happened? Do you ever struggle to remember someone’s name? Don’t worry—you’re not the only one. Our memory is far from perfect, and the memory bias effect doesn’t help. A memory bias ... Read More
One of the most prevalent phenomena in our collective psyche is the need to be right. Pundits debate their views of climate change and political conflicts on television, we have arguments with friends as to who said what, and we often triumphantly proclaim: “I told you so!” This phenomenon starts early. From a very young ... Read More
Why do we often want to stick with our current beliefs, even when new knowledge seems to contradict them? Why does dogmatic belief habitually trump objective evidence? This effect is called the Semmelweis reflex, which Thomas Szasz described as “the invincible social power of false truths”—a phenomenon so dangerous it has caused many deaths throughout ... Read More
What do astrology, fortune telling, and cold reading have in common? They all exploit the Barnum Effect to convince people that the statements are personal to them.
Declinism: how rosy retrospection impacts decision-making
“It was better before,” says your friend. “Ha, those were the days,” your reply with a sigh. Declinism is the belief that societies tend towards decline, often linked with rosy retrospection—our tendency to view the past more favourably and the future more negatively. It may seem harmless, but declinism can cloud your judgement and lead ... Read More