Startups are hit and miss. There is a fair amount of luck involved, as well as other skills not related to rationality, and sometimes conflicting with it (using dark arts to successfully sell your idea/product, hire employees on a cheap with promise of a future big payout).
So no, it’s not a good test, unless you control for for all other factors, which means you have to have many startups running at the same time and analyze the statistics after a few years.
So no, it’s not a good test, unless you control for for all other factors, which means you have to have many startups running at the same time and analyze the statistics after a few years.
I think we have a illusion of transparency/dialect problem. I referred to the test as an experiment and in the usage II’m familiar with that would necessitate a control group and imply following other other generally accepted experimental protocols (e.x. random assignment ) as closely as is feasible.
This would only be useful if there is skill in tech entrepreneurship, and it’s not just luck. The fact that previously successful entrepreneurs have a higher success rate points to that, but it’s hardly conclusive.
Startups are hit and miss. There is a fair amount of luck involved, as well as other skills not related to rationality, and sometimes conflicting with it (using dark arts to successfully sell your idea/product, hire employees on a cheap with promise of a future big payout).
So no, it’s not a good test, unless you control for for all other factors, which means you have to have many startups running at the same time and analyze the statistics after a few years.
I think we have a illusion of transparency/dialect problem. I referred to the test as an experiment and in the usage II’m familiar with that would necessitate a control group and imply following other other generally accepted experimental protocols (e.x. random assignment ) as closely as is feasible.
This would only be useful if there is skill in tech entrepreneurship, and it’s not just luck. The fact that previously successful entrepreneurs have a higher success rate points to that, but it’s hardly conclusive.