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The Importance of Uncertainty in Business and Economics
Wanting to believe we are in control is an emotional itch that needs to be scratched. We focus on what we know and neglect what we do not know, which makes us overly confident in our beliefs. The outcome of a startup depends as much on the achievements of its competitors and on changes in the market as on its own efforts. It's time to tie together a few things we've learned about financial decision-making.