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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 fai
by 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 agoYou 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 agoYou 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.