Does the power iteration method for finding eigenvalues work for non diagonalizable matrices? Why or why not?

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I have the proof that it works for diagonalizable matrices But does it work for the other category also? If it does or does not, how do I prove it?

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Try power iteration with $$ \pmatrix{0 & 1 \\ 0 & 0 }, \ \pmatrix{0 & 1\\1& 0}, \ \pmatrix{0 & 1\\-1& 0}. $$