[kristofferR]

But that's his point. If he was aware that his startup actually were a business, and not just a "startup", he would have operated it as a business (and likely learning and pursuing as much knowledge as he could).

However, the term "startup" took his focus away from thinking of it like a business. Once he realized that it actually was a business (which needs profits) he knew that it was a bad one and shut it down.

[untog]

But that's... insane. Changing your entire perception of the company you own based on the labels that you have chosen to apply to it? When you run the thing you really ought to have a clearer idea of what is going on.

[elemeno]

It's psychology - we all fall fowl of the labels we apply to ourselves.