From the article: > Baron and Hannan found that companies founded with a commitment model for managing their people were more likely to reach an initial public

From the article: > Baron and Hannan found that companies founded with a commitment model for managing their people were more likely to reach an initial public offering or be acquired at a good price and were much less likely to fail than companies managing their people using other approaches. But — and this is what’s important — companies that shifted to this more effective way of managing people were actually more likely to fail than companies than had begun with a different, less effective way of managing but stayed with it. > That’s because the benefits of changing to a better way of doing things did not outweigh the disruptive consequences of the transition. Nice. Confusing causation with correlation in one sentence.