“The tyranny of the quantifiable” describes the current ethos of venture financing.

In such a system, what can be measured almost always takes precedence over what cannot: private profit over public good; speed and efficiency over enjoyment and quality.

Paul Graham argues that explosive growth is the only measure of success. “Making it” means one of two things: go public or sell. But a startup has about as much chance of making it as a single sperm has of fertilizing an egg.

90% of startups fail. The majority die ...