Study of 157,669 startups: 88% of VC-backed founders who exited got $0
JosephJacks_ · x · 2026-10-26
Eduardo Azevedo and Kent Smetters analyzed 157,669 startups and 248,454 founders from 1987 to 2025 and found that 88% of VC-backed founders who exited their companies received $0. The counterintuitive stat — being acquired rarely means a payday for founders — is circulating widely as a sobering reality check on startup exits.
Related event: NBER Study: 88% of VC-Backed Founders Exit With Nothing(2 posts)→
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