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Rico is a driven young tech entrepreneur. He dropped out of Harvard and is working on a new tech start-up in his parents' basement. He

Rico is a driven young tech entrepreneur. He dropped out of Harvard and is working on a new tech start-up in his parents' basement. He thinks he'll make it big because he has heard about so many other fledgling start-ups just like his that ended up becoming big tech companies. Using the concept of survivor bias, explain Rico's confusion. What statistical fact does Rico need in order to make for a more realistic assessment?

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