Is 80% even that high? I thought the idea behind VC was to fund companies where 90% are doomed to fail, 9% might do okay, in order to cash in big on the 1% that

Is 80% even that high? I thought the idea behind VC was to fund companies where 90% are doomed to fail, 9% might do okay, in order to cash in big on the 1% that have stellar success. Am I way off with my numbers there?