STARTUPS: Using science (data) to calculate the likelihood of whether a startup will make it past the fledgling stage seems like the answer to every new travel business's dreams. Apparently all you need is a system which evaluates some core elements of a startup's DNA and, hey presto, no more wasting everyone's time. Maybe. Read more on Wired.
Heading down the startup route can be a dangerous thing.
A larger competitor might undercut your prices. Someone might sue you for patent infringement.
Someone else could sue you because your products don’t do what you said it would. Or, well, the market may have no interest in what you’re selling.
In the US, for example, about half of all businesses fail within five years.
But Thomas Thurston thinks data science could remove a fair amount of the risk. For the past nine years, he’s been honing techniques for evaluating business plans statistically rather than intuitively.
Read more on Wired
NB: Oracle image via Shutterstock.