The phrase implies that the victor's perspective is the one that becomes the dominant narrative in historical accounts, while the perspective of the defeated or marginalized groups may be suppressed or ignored. This raises questions about the objectivity of history and how historical narratives are shaped by power dynamics and political agendas.
It's important to recognize that history is complex and multifaceted, and it can be influenced by various factors beyond just the victors' perspective. Social, cultural, and economic forces also play roles in shaping historical narratives. Additionally, over time, new perspectives, interpretations, and historical sources can emerge, challenging or modifying existing historical narratives.