Venture builder weekly

Welcome to the GrowValley Newsletter! ??

Your beacon in the world of venture building and innovation. ????

In this edition, we unravel the art of navigating the complexities of the survivorship bias. We'll also dive into tech highlights from the world and the MENA region and take a jibe at the challenges of a marketplace model

As the world undergoes seismic shifts, we're here to help you stay ahead of the curve and cut through the noise. Join us on this exhilarating journey as we uncover the limitless possibilities in the ever-evolving realm of GrowValley. ????

Without further ado, let's dive into the latest news and explore the captivating stories that await! ????

Overcoming Survivorship Bias: A Guide to Realistic Optimism ??

Have you ever found yourself scrolling through social media, bombarded by success stories that make it seem like everyone else is running 7-figure business or experiencing lightning-fast growth, leaving you feeling like the odd one out? Well, let me tell you, you're not alone. ??

In today's fast-paced digital world, it's easy to fall into the trap of Survivorship Bias, where we tend to overestimate the likelihood of success when we only focus on the success stories. It's like looking at a highlight reel and assuming that's the whole game. But in reality, there's much more beneath the surface. ??

Understanding Survivorship Bias

Survivorship Bias occurs because our minds are wired to see successful outcomes as commonplace rather than recognizing them as exceptions. To illustrate this point, let me share a famous story from World War II. ??

During the war, statisticians were tasked with making planes less susceptible to enemy fire. Initially, they analyzed the damage on returning planes and planned to reinforce the areas that were hit the most. However, they were inadvertently falling into the trap of Survivorship Bias. ???

It was the statistician Abraham Wald who realized they were on the wrong path. Instead of focusing on the planes that made it back, they should have been reinforcing the most vulnerable parts of the planes that didn't return. This shift in perspective led to better, more robust aircraft. ??

Inside Your Mind

In today's digital age, we are constantly bombarded with success stories. A quick scroll through social media might leave you thinking that everyone is effortlessly building 7+ figure businesses or achieving remarkable personal milestones. The truth is, many of these stories are outliers and not representative of the typical journey. ??

If we're not careful, Survivorship Bias can negatively impact our self-esteem and decision-making. But fear not, because understanding this bias can also be a powerful tool when applied correctly. ???

How to Apply This

Here's how you can navigate Survivorship Bias in your entrepreneurial journey:

1. Think critically about success stories: Before embarking on a new venture, take the time to research and dig into the backstories of successful individuals or businesses. What advantages did they have that aren't immediately apparent? This will give you a more realistic perspective. ??
2. Learn from failures: Failure is a part of any journey, despite what Survivorship Bias might lead you to believe. When a project doesn't go as planned, conduct a post-mortem analysis. What were the roadblocks? Were there assumptions that turned out to be false? What lessons can you extract for the future? ??
3. Be a realistic optimist: Recognize that while success stories are inspiring, they often represent outliers. Still, believe in the possibility of achieving your goals. Being a "realistic optimist" means acknowledging the challenges but maintaining a positive outlook. ??

As we navigate the entrepreneurial landscape, let's keep in mind that Survivorship Bias is real. By understanding it and applying these principles, we can make more informed decisions and, perhaps most importantly, be kinder to ourselves. ??

Success is attainable, and here at Grow Valley, we're here to support you on your journey. Stay realistic, stay optimistic, and keep growing. ???Get free advice from our experts by setting up a call and joining the GV club.

If you have any thoughts or feedback on this topic, please hit reply and share your insights. We love hearing from you. ??

?? Tech Highlights

Get ready for your weekly dose of captivating tech updates that will keep you at the edge of your seat. ??

?? Privacy Alert! Companies Updating Policies: More companies are changing their privacy policies to use your data for training generative AI models. Read more ??

?? Regulators Investigate AI Workers: Regulators are looking into the treatment of AI data label workers who ensure the safety of ChatGPT, Bard, and Bing for consumers. Read more ??

?? Bloomberg on FTX's Parental Role: Bloomberg explores how Sam Bankman-Fried's parents provided air cover for FTX. Read more ??

??? AI Predicts Health Risks: Scientists unveil a self-supervised AI model that predicts ocular diseases, heart failure, Parkinson's, and more using retinal images. Read more ??

?? e& Named COP28 Tech Partner: UAE's e& is named 'Principal Technology Partner' for COP28, providing network connectivity and digital infrastructure. Read more ??

?? UAE Astronaut's Return Date: UAE astronaut Sultan Al Neyadi will return home on September 18 after the longest-ever Arab space mission. Read more ??

???? Saudi Arabia's Data Protection Law: Saudi Arabia introduces a new personal data protection law effective from September 14. Read more ??

?? X Settles Layoff Lawsuits: Musk's X (formerly Twitter) agrees to settle mass layoff lawsuits, including severance for fired workers after Musk's acquisition. Read more ??

?? Dubai Police Genome Centre: Sheikh Hamdan launches the Dubai Police Genome Centre, delivering critical forensic results in under 24 hours, surpassing global standards. Read more ??

?? Elevate Your Creativity: Discover Soorago! ??

Hey there, creative minds!

Remember when we introduced you to Soorago last week? Well, we're back with more exciting news and a fresh perspective on how we can transform your creative journey.

?? Unlock Your Creative Potential! Soorago isn't just a platform; it's your creative playground. Whether you're a seasoned pro or just starting, we've got the tools and resources to help you shine. Dive into a world of possibilities with us!

?? Access the Best Gear & Locations Picture this: You have a vision for your next project, but you need the perfect equipment and location to bring it to life. Soorago is your one-stop shop to find top-quality gear and scout amazing locations with ease.

?? Monetize Your Equipment Calling all gear owners! It's time to turn your equipment into cash. List your gear on Soorago and connect with fellow creatives who need what you have. Let your equipment do the talking and earn while you're at it.

?? Join the Creative Revolution We're not just a platform; we're a community of artists, innovators, and creators. When you join Soorago, you're joining a movement dedicated to elevating the art of content creation.

Ready to take your creativity to the next level? Head over to our website and let your journey begin. Explore, rent, share, and create with Soorago!

Stay tuned for more updates, tips, and exciting features coming your way. We're here to empower your creativity every step of the way. ????

????Curious Cats ??

???♂? The Leaky Marketplace Hypothesis ??

Ever noticed how you start with an app, but then magically end up talking to service providers directly? It's like the app vanished! Here's the scoop:

1?? You hire a service from an app, say Urban Company. Service is ??, so you decide to cut out the app middleman. Carpenter, beautician, you name it.

2?? Airbnb too! Book for a day, then snag the host's digits for the rest of your stay.??

3?? But wait! Sometimes, like in Airbnb's case, things can go haywire. Host double-books, and you end up paying more. Oops! ??

4?? The question is: Why does this happen more with service apps? ??

5?? The answer? E-commerce apps like Deliveroo have layers to keep you away from sellers. It's like a maze! ??

6?? Service apps are different. They want you and the service provider to connect easily. Less friction. ??

7?? Also, you don't order a plumber every day, right? Habit isn't as strong here. ??

8?? Plus, you build trust with service providers. You don't want to switch barbers every month! ??

So, even though these marketplaces have leaks, they're sticky enough to thrive. Convenience and trust win! ??

Ready for the deep dive into why these leaks aren't so bad after all? Read more ??

Stay tuned for our next newsletter as we continue to bring you captivating insights, innovative ideas, and the latest happenings in the world of startups and investments. Thank you for joining us on this journey of discovery and inspiration! ?????