1. The high cost of getting the first customer and the even higher cost of getting the product wrong.
2. Long technology development cycles.
3. The limited number of people with an appetite for the risks inherent in founding or working at a start-up.
4. The structure of the venture capital industry, in which a small number of firms each needed to invest big sums in a handful of start-ups to have a chance at significant returns.
To read the original article: Why the Lean Start-Up Changes Everything - Harvard Business Review
