Or put another way, perserverance has resulted in business success... for those who had a long term strategy. The herd instinct is dangerous. High Tech start

Or put another way, perserverance has resulted in business success... for those who had a long term strategy. The herd instinct is dangerous. High Tech startups are less likely to fail (though the %48 figure was "companies seeking VC funding" it doesn't break down how many got it. Possibly, those who did not get it had a lower failure rate.)