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Podcast: Investor Connect Podcast
Episode: Startup Funding Espresso -- Illusion of Control
Description: Illusion of Control Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. The illusion of control phenomenon is defined by Wikipedia as the tendency to overestimate one's degree of influence over other external events. Startups often display an illusion of control about how their product and sales efforts will take over a market. Just as the gambler in the casino cannot make the dice come up the way he wants so the startup cannot predict how fast his product will gain adoption. A few organic sales often lead startups...