This paper doesn't support your claim. All it says about the criteria they used to select companies is the industry they were in. E.g. "Aerospace." Is he tal

This paper doesn't support your claim. All it says about the criteria they used to select companies is the industry they were in. E.g. "Aerospace." Is he talking about SpaceX, or someone's 10-person shop making some component for light aircraft? The distinguishing feature of startups is their growth rate, not the industry they're in. Just look at the evidence in front of you. Think of famous startups you yourself know. Just name 10 well known startups, and see how many in your list haven't taken money from investors.