In advising start-up entrepreneurs you are always conscious that 80% will not last more than 2 to 3 years. The remainder will survive for a further 5 years but few will be around in 10 to 15 years time. Why is this? The usual suspects are lack of a good offering or original idea and over optimism on the funding needed during the early phases. However, one of the major causes of failure is the team around the project. The co-founders fail to share the same vision, are more interesting in winning internal battles than their market and fail to listen to each other. Being an entrepreneur is hard enough but co-founder trouble is usually the nail in the coffin. Perhaps that is why (among other things) Apple succeed - Jobs and Wozniak were so good together.
We have learned that people are more important than ideas. The best ideas won’t change the world if the right people aren’t executing them.