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> Survivorship bias doesn't relate to people who worked hard, improved themselves and now earn 1-10MM/yr. I don't have the actual numbers (does anyone?), but m
by taway_1212 10y ago
> Survivorship bias doesn't relate to people who worked hard, improved themselves and now earn 1-10MM/yr.
I don't have the actual numbers (does anyone?), but my guess would be that universally given <10% of startup success rate includes those people. In other words, you have 90%+ chance of failure, and <10% of chance of ending up with income better than in a job (including very small chance of becoming a multimillionare).
For example, there are millions of apps on App Store. Most of those are/were somebody's startup...
- thenomad 10y agoDepends what you mean by "startup" and indeed "success". As mentioned elsewhere on this thread, small business survival rates are surprisingly high these days - around 60% depending on whose figures you believe. (I think that's too high, and suspect it doesn't include digital businesses to the extent it should. But 40% wouldn't surprise me, across all sectors and industries.) Wannabe-unicorn success rates at getting to unicorn status are, OTOH, very low indeed. But the rewards are arguably commensurate with that.