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It’s disingenuous to claim that the success rate is .3%. The success rate for the first stage (pre-vc) of venture might be one percent, and the success rate for
by condiment 2y ago
It’s disingenuous to claim that the success rate is .3%. The success rate for the first stage (pre-vc) of venture might be one percent, and the success rate for the next stage (post) is 10 to 25%, depending on how a founder perceives success.
These rates are independent. You can’t aggregate them because the level of effort to secure VC funding is very different from the level of effort required to take a funded start up to unicorn heights.
If I understand your argument to be that startups are relegating themselves to the trash bin because they’re attempting to get attention from venture capitalists at the expense of some fundamental “goodness”, some data supporting that point would be helpful. But that’s not what’s in the article.