Published: January 5, 2018- Nanalyze
It’s not easy to make it in today’s business world. Why do you think we have so many MBAs writing for us? The chance of becoming the next Uber or next Apple is infinitesimally small. Anecdotally, we all understand that most startups fail, but the bright minds at CB Insights finally started putting some hard numbers behind those stories last year and found about 70 percent of startup tech companies fail less than two years after raising their first financing. (Though we should also point out that that statistic includes companies that become self-sustaining, and the study was based on a cohort of about 1,100 startups.) The chances of joining the Unicorn Club, those private companies valued at $1 billion or more, is less than 1 percent. You’d think if you had reached those heights, it would be smooth sailing, right? Well … let’s take the case of biotechnology startup Theranos.
