Guys, cmon. This was all startups analyzed, not just those who had exits.
You think there were over 4,000 startups exits per year on average since 1987?
88% of VC-backed founders who exited their companies got $0. Eduardo Azevedo and Kent Smetters analysed 157,669 startups and 248,454 founders from 1987 to 2025.
Let that sink in...