(1) Regarding the Scott Shane book, Shane just provides his analysis findings on business survival data that he found after using the data collected by a government agency. He found each cohort consistently follows the similar pattern. And there is a difference for each sector of business. This is contrary to a belief that entrepreneurs can be successful in America. But his findings show more than 70% start ups gone out of business after 10 years. From the Amazon site review, it seems that this is one of the common beliefs on business that he proved as a myth.

(2) There are considerable differences across industry sectors in business failure rates. What are these? In brief: Information industry had the lowest 4-year survival rates, 38 percent. Education and health services had the highest 4-year survival rates, 55 percent. Leisure and hospitality sectors 4-year survival rates of 44 percent are only slightly below average, despite including restaurants. That is, the sector with the highest survival rates is education and health services. The sector with the lowest survival rates is the information industry.