Two things prevent this from being a cogent narrative, in my opinion: - How do these figures compare to the overall population of applicants? - How do these f

Two things prevent this from being a cogent narrative, in my opinion: - How do these figures compare to the overall population of applicants? - How do these figures compare to the entirety of VC-backed startups? Without that knowledge, this is just extrapolation around a set of isolated data points.