It's very possible: - Prior failure, most likely the next venture will fail. - Prior success, most likely the next venture will fail. Basically, odds are tha

It's very possible: - Prior failure, most likely the next venture will fail. - Prior success, most likely the next venture will fail. Basically, odds are that a venture will fail regardless of past performance, similar to how past lottery winning doesn't predict future lottery winning. Personally, I don't think it's necessarily true (successful founders will already have an existing audience and investors for their next product), but mathematically this could be one way it holds true.