The median startup is a business that's capitalized with about $25,000. The financing of that business comes from the entrepreneur's savings. The business is a

The median startup is a business that's capitalized with about $25,000. The financing of that business comes from the entrepreneur's savings. The business is a retail or personal service business, a hair salon or a clothing store, that kind of thing. The founder doesn't have expectations of a very high growth business, in fact [the entrepreneur is] probably thinking a goal of $100,000 a year of revenue is a good goal. The economist guy isn't wrong -- it's the article's title that's misleading. It is hard to bootstrap your own gas station or hair salon. I'd argue, though, that developing new technology is a fundamentally different undertaking.