One of the first of the many discouraging things us entrepreneurs will be told is about the dismal failure rates of startups. I am talking about the infamous '90%' rule, which says that '90% of startups fail within the first five years.'

Gabriel Weinberg, an entreprenur and good startup blogger ,says the 90% failure rule is grossly misleading.

His reasoning,

1. Your business has low initial capital costs.
2. You're doing a software/Internet startup with low marginal costs.
3. You're not doing it blind, i.e. you're getting a lot of good advice from experienced people.

Thus, Gabriel concludes,

If you add to that the right personality traits, e.g. determination, and some savings to give you a decent run-way, then your expected failure rate is certainly much lower than 90%, perhaps 50-60%.
At that rate, you might as well call it a 40% success rate.

That is something we can be happy for.
The journey is the destination. Right, folks?