Startup Funding Espresso Dunning-Kruger Effect
b'Dunning-Kruger Effect Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. The Dunning-Kruger effect is a cognitive bias defined by Wikipedia\\xa0as the tendency for unskilled individuals to overestimate their own ability and the tendency for experts to underestimate their own ability. Investors reviewing deals in an unfamiliar sector often consider their skills to be greater than they are. Investors who are familiar with a sector often don\\u2019t realize how strong their perceptions are. To overcome the Dunning-Kruger effect, an investor should slow down and take time to analyze the deal more carefully.\\xa0 Write out the assumptions about the deal and test each one to see if it holds true. Investors often impute their own industry practices on the startup\\u2019s industry which does not always hold true. Mentally assume you know less than you think you do. Reach out to others who know the industry better to understand it. \\xa0 Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.Let\\u2019s go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: \\xa0 Check out our other podcasts here: \\xa0 For Investors check out: \\xa0 For Startups check out: \\xa0 For eGuides check out: \\xa0 For upcoming Events, check out \\xa0\\xa0 For Feedback please contact info@tencapital.group\\xa0\\xa0\\xa0 Please , share, and leave a review. Music courtesy of .'