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Podcast: Investor Connect Podcast
Episode: Startup Funding Espresso -- Normalcy Bias
Description: Normalcy Bias Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. The normalcy bias is defined by Wikipedia as the refusal to plan for, or react to, a disaster that has never happened before. First-time startups suffer from the normalcy bias as they have limited experience with what can happen to startups over time. Founders with previous experience tend to prepare better for the unexpected as they have encountered it before.  To overcome normalcy bias consider the following: Plan for all potential contingencies such as What to do if rev...