Some startups are born lucky. By the chance of their timing, their technology, or the individuals who helm them, they experience Facebook-size success. Others fail quickly. There is luck in this, too — in an immediate, concise conclusion. Far more startups, having raised funding on the merits of an idea and a team, plod along for years or even decades, constantly casting about for the idea or customer or partnership that will transform them. Their investors are patient, and then exhausted, and then checked out, and then impatient. Their executives change, and then change again. The founders leave, or they hang on in hopes the company they conceived will somehow eventually prove itself. They are zombie startups.
