I think that was an unfair anecdote. I don't know about that particular company but it is the nature of the business that most start ups fail some last for quite a while and once in a great while you get a spectacular winner like Google or Amazon.

There is so much churn in our economy it is difficult to get a real handle on it. So many products last just a few years (floppy disks) then disappear to be replaced by something else. Coffee shops and quick oil change businesses came out of nowhere.