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by Animats 2 hours ago
I've met the type. But usually, they're on the marketing side, not the ones who develop something. I knew one who blew through 8 figures and ended up an alcoholic, then dead.

The startup market rewards first to market and first to scale. This creates a game of "chicken", where the competitors spend like crazy trying to achieve a near monopoly. That's why some of the fake-it-til-you-make-it crowd gets ahead. But most of them crash. The historical success rate for VC-funded startups is only about 1 in 10.