4 ms·

Oh don’t act like it’s not an important number. We don’t live in a utopia where money doesn’t matter. It’s an important number.

• andrewxdiamond 5y ago
  It’s an important number for the CEO and CFO, but it means nothing about the business or it’s success. “Funding raised” is completely uncorrelated with how successful the company is.
  • nxmnxm99 5y ago
    Citation required
    • deleted 5y ago
      [deleted]
  • Phillipharryt 5y ago
    This is just patently untrue. The failure rate of ventue-backed startups is 75%. The failure rate of all startups is 90%. Funding is correlated with a lower failure rate. https://www.failory.com/blog/startup-failure-rate https://www.failory.com/blog/startup-failure-rate
    • andrewxdiamond 5y ago
      You can use statistics to make inferences about groups as a whole, but you can’t use stats to deduce anything about any specific case. A coin has a 50/50 chance of being heads, but just because the coin landed on tails last time doesn’t mean it’ll be a head the next time. Here is the link I should have included originally https://en.m.wikipedia.org/wiki/Ecological_fallacy https://en.m.wikipedia.org/wiki/Ecological_fallacy
      • Phillipharryt 5y ago
        You said ' “Funding raised” is completely uncorrelated with how successful the company is. ' I showed you this statement is wrong, by providing you a statistic that proves they are correlated. We were not talking about any specific case, I don't know why you've opened with that. The coin flip statement is true but also completely unrelated to our discussion.