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Podcast: Investor Connect Podcast
Episode: Startup Funding Espresso -- Authority Bias
Description: Authority Bias Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Authority bias is defined by Wikipedia as the tendency to attribute greater accuracy to the opinion of an authority figure and be more influenced by that opinion. Founders seek experts in various roles to help grow their startups. In particular, this occurs when the founder is working in unfamiliar areas. Problems arise if one follows blindly what someone else says without understanding what lies behind the advice. To overcome authority bias, consider the following: While experts have experience...