I don't know. The reality is just that most business ideas don't pan out. There were hundreds of well-funded efforts to build online retailers before Amazon happened. If you're well-off, it's obviously easier to try and try again, but you're still likely to fail.
I think the article is right in that if you don't have a clear business idea ("we're building a platform"), the odds are even worse. Except when they aren't, because in some niches, you actually have customers who want a platform. Cloud computing is an obvious example. It's just not the general case for consumer stuff.
I think the article is right in that if you don't have a clear business idea ("we're building a platform"), the odds are even worse. Except when they aren't, because in some niches, you actually have customers who want a platform. Cloud computing is an obvious example. It's just not the general case for consumer stuff.