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Sounds to me like a special case of Sturgeon's Law: of course 90% of startups are crap. That's because 90% of everything is crap.

Actually, 90% of crap is crap. The rest is diarrhea, which is latin for "flavored water".

(Can't find the quote on the web right now)

Actually, 70% of the cells in the human body are E. Coli!