It's a sad fact of life that the vast majority of startups are doomed to fail.
If you stop to think about it, this is quite surprising. After all, entrepreneurs who choose to found a startup are usually bright, confident, and willing to take on risks . Even though they know that the startup mortality rate is so high, they are happy to challenge the existing players in the market, because they feel they can do a better job than the incumbents. They're well-informed and expert, and the very fact that they've been able to raise money from funders means they are charismatic and can do a good job convincing mature investors that they have a dream which is worth backing.