Mon, 30 January 2023
Bias Blind Spot
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
The bias blind spot is a cognitive bias defined by Wikipedia as the tendency to see oneself as less biased than other people or to be able to identify more cognitive biases in others than in oneself.
All investors have blind spots and biases.
Investing in experiences causes one to be biased unconsciously.
To overcome biases, focus on self-awareness.
Learn more about the common types of bias such as anchoring and confirmation bias.
Watch how you react and respond to different pitches.
Question your judgment to see if it’s based on fact.
Identify what type of deals and founder types make you uncomfortable.
Question your judgment process to see where it may be flawed.
Are you biased against certain types of people because of past experiences?
If certain types of startups and founders make you uncomfortable then spend more time with them.
Becoming familiar with them will make you more aware of potential biases you may have.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.
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Music courtesy of Bensound.