> 2) startups have a lot higher tolerance for failure I disagree. They have, necessarily, a greater willingness to accept risk since they are already in a risk

> 2) startups have a lot higher tolerance for failure I disagree. They have, necessarily, a greater willingness to accept risk since they are already in a risky situation by definition. If anything the startup is likely less tolerant of failure compared to a big established business, in that it has nothing to fall back on and will simply fail and go out of business.