Investor and entrepreneur Kevin O’Leary delivered a blunt warning to startup founders, urging them to recognize failure, cut their losses and avoid spending more money on businesses that are not working.
O’Leary Tells Founders to Cut Their Losses When a Startup Fails On Saturday, O’Leary shared his advice on X, arguing that entrepreneurs can make costly mistakes when they refuse to acknowledge that a business idea has failed.
He said, "The worst mistake you can make as an entrepreneur is refusing to admit when something has failed." He warned that continued spending cannot turn an unsuccessful business concept into a viable one.
"Bad ideas do not become good ideas just because you keep throwing more money at them," O’Leary said.
He added, "Embrace the loss, learn from it, and move on." He continued, "80% of startups fail.
