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The remarkable thing is not just how mistaken these reporters seem, but how sure they are of themselves. It must be a general reporter m.o. always to speak with certainty. Usually they get away with it, but when talking about startups this trick can blow up spectacularly.https://twitter.com/SamRo/status/1372132647795851272 …
Another topic that makes fools of reporters is epidemics. And startups and epidemics have something in common: exponential growth. Maybe we need to add an asterisk to the reporters' playbook: Drop the certainty when predicting the outcome of exponential growth.
lmao tag him
Very much applicable in both directions
The most remarkable thing is they pay no price for their mistakes. They carry on spewing nonsense with the same certainty. No apologies, no corrections, no humility.
i bet that a lot of ppl listened to those "reporters" nonsense, and decided against buying into amzn stock.
I wonder how many people decided not to invest from that report?
In fairness to 60 Minutes, the stock was ~$90 around the time of that report and cratered down to under $10 a few years later (9/11). It took 10 years for it to reach $100 again. So, it’s kinda like dunking on people who said cell phones were too pricey to own in 1988.
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