[stagbeetle]

If you're looking at it literally, where 9 out of 10 startups fail and the majority of founders are first timers, then it wouldn't be so far-fetched.

I don't think there is any data to back this up and using induction is fair here.

However, if we're labeling "CEOs" as CEOs who are also in-charge of large (100M Cap) companies, than we would need some formal data.