"How do you reconcile this with most startups failing?" Very simple. Don't choose the type of startup that has a 3 in 10 chance of succeeding on the off chance

"How do you reconcile this with most startups failing?" Very simple. Don't choose the type of startup that has a 3 in 10 chance of succeeding on the off chance that you are the lucky one that hit's the lottery. Stop thinking that if you want to be an entrepreneur the only thing you can do is get into YC, Techstars, 500 Startups or have some idea that a VC will invest in. The other thing you can do is work as hard as I've indicated but put eggs into other baskets. The first business that I did (which I sold after 9 years and did pretty well with) I had spent time learning UNIX while I was running the business in order to manage the business (quite unusual back then but I found it fun and interesting. So it was my fun but the fun had a purpose). With those skills I was able to do something later that also made money. I worked all the time but I dedicated some of my time also to learning new things that could be "the next thing" or a fall back if the first thing failed (it didn't). The point is, just like in investing you are supposed to diversify you can do that as well with business. Now I didn't diversify my efforts until maybe year 4 (because I started with nothing and had to make up for not having enough capital to do everything that I needed) but once I got to that point I took some time and money and invested even then in the future. I started my business with maybe $7000 (in today's dollars) that I earned by doing various things in high school and college by working. Yes, for me it worked out. But my suggestions are also based on many years of observing what others did that didn't work and how much effort they put in.