This is not puzzling at all. It's just yet another instance of conflating startups with newly founded companies. In fact the former are a tiny subset of the l

This is not puzzling at all. It's just yet another instance of conflating startups with newly founded companies. In fact the former are a tiny subset of the latter. All the Kauffman Foundation study tells us is that people aren't starting as many barber shops and landscaping companies in Seattle as in the other cities.