I think your definition of "bad" implies a high likelihood of failure. Whereas I'd say that a "bad" startup is one with a low growth or profit potential; my gu

I think your definition of "bad" implies a high likelihood of failure. Whereas I'd say that a "bad" startup is one with a low growth or profit potential; my guess is that pg's definition is similar. A bad startup can "succeed" and a great startup can fail -- they're totally unrelated things, IMO.