This has been analyzed by many, but the stats you see reported often are that 9/10 startups fail while 7/10 venture-backed startups fail [0]. Perhaps the reason

This has been analyzed by many, but the stats you see reported often are that 9/10 startups fail while 7/10 venture-backed startups fail [0]. Perhaps the reason why a startup has no investor interest is because the market is too small, so cutting the data by TAM (if possible) might be interesting. We don’t have data for these micro-TAM startups showing whether they succeed more or less than any other startup. But the data we do have does show an advantage to raising money from VC vs. not. But to be clear, my point is that funding should be a more complicated and nuanced discussion. And if there’s a $5M+ potential return, like the author proposes, then there should be investor interest. The question is whether it’s a good idea for the company to raise. [0] https://review42.com/resources/what-percentage-of-startups-fail/ https://review42.com/resources/what-percentage-of-startups-f...