The Misconception: You should study the successful if you wish to become successful.

The Misconception: You should study the successful if you wish to become successful.

Taking survivorship bias into account, Wald went ahead and worked out how much damage each individual part of an airplane could take before it was destroyed – engine, ailerons, pilot, stabilizers, etc. – and then through a tangle of complicated equations he showed the commanders how likely it was that the average plane would get shot in those places in any given bombing run depending on the amount of resistance it faced. Those calculations are still in use today.

Google tax policy is ‘just capitalism’

Google tax policy is ‘just capitalism’

Eric Schmidt, the head of Google, has shrugged off criticism that his company pays only a fraction of its tax bill, saying it’s “just capitalism”. He also challenged the British Government to change the law or stop complaining.

Speaking at Hay-on-Wye literary festival yesterday, the executive chairman of the world’s biggest search engine said: “It is normal to do what Google is doing. It is up to the Government to change it.”