When disasters happen, everyone wants an explanation.
This is partly so that it can’t happen again and partly in order to find something or someone to blame.
I am relieved, therefore, that we finally have a culprit for the slight debacle that was the Facebook IPO.
No, it isn’t Facebook’s CFO, nor some rapacious banker, seated upon a velvet Bentley driver’s seat. Instead, the cause of this tragedy was Availability Bias.
Should you not have heard of this phenomenon, or syndrome or complex it’s the idea that if people find something important, they believe that everyone else must find it important too.