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Out of interest have you actually read the paper?

Our analysis focuses on data covering investments from 1975 to 2000

Not startups at all. In fact this paper is only about the success rate of VC backed companies pre-incubators.

For the purposes of this analysis, we examine the founders (henceforth referred to as “entrepreneurs”) that joined firms listed in the Venture Source database during the period from 1986 to 2000.

VC backed companies are not the totality of entrepeneurs and any conclusions about them is moot in terms of discussion of small bootstrapped ventures which a lot of iOS developers will be, VC operate by a completely different strategy than normal people do, they want the lottery hit.



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