Survivorship bias frequently engenders an inclination to disproportionately concentrate on instances of achievement while inadvertently disregarding the less conspicuous instances of failure; within the realm of new enterprises, where aspirations for achievement permeate, this cognitive bias can engender excessive self-assurance and disregard for the genuine obstacles at hand. This article examines the prevalence of survivorship bias in the context of startups when most newly established enterprises experience failure. It also underscores the significance of mitigating survivorship bias by drawing upon historical and present business illustrations. This study delves into the narrative of Vine, a social media platform that, despite its initial potential, fell short of attaining the level of success achieved by its counterparts. This case study highlights the importance of examining successful and unsuccessful initiatives to develop a comprehensive grasp of the obstacles and possibilities within the realm of entrepreneurship. Moreover, survivorship bias has implications that extend beyond the realm of startups and can significantly impact decision-making processes inside financial institutions. This is particularly evident in evaluating investment groups, where performance assessments sometimes exclusively consider the entities that have managed to survive. Consequently, this approach has the potential to introduce a bias that may lead to an excessively optimistic interpretation of the data. This paper proposes the adoption of a complete methodology that considers both successful and unsuccessful cases in order to enhance decision-making in the field of entrepreneurship, thereby mitigating the potential biases associated with survivorship bias.