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4 Ways Hucksters, Gurus And Consultants Fool Us (And Usually Themselves Too)
When I lived in Poland, it was common to say that “life is cruel, and full of traps.” From an American perspective, the aphorism can be a bit of a culture shock. We’re raised to believe in the power of positivity, the American dream and the can-do spirit. Negativity can be seen as something worse than a weakness, both an indulgence and a privation at the same time.
Over the years, however, I came to respect the Poles’ innate suspicion. The truth is that we are far too easily fooled and taken in by those prey on the glitches in our cognitive machinery. Sometimes the ones peddling bunk have fooled also themselves. Their claims seem to be supported by logic and evidence, but their promises never quite pan out.
We’re taken in because we want their claims to be true. We’d like to think that there is a secret we’re missing, that there’s a black magic that we’re not privy to and, if we prove our worth and obtain access to a few simple truths, we’ll capture the success that eludes us. Yet these frauds follow common patterns and there are telltale signs we can learn to spot.
The Survivorship Bias Trick
In 2005 W. Chan Kim and Renée Mauborgne, both distinguished professors at INSEAD, published Blue Ocean Strategy. In their study of…
