colleagues called this attribution theory. The theory says that people explain their successes and failures “by attributing them to factors that will allow them to feel as good as possible about themselves.” Remember what the Startup Funeral founders said? “We ran out of money.” “People didn’t want it.” “The ‘gray hairs’ had no plan.” Look at what they did. They each attributed their companies’ failures to external factors. Things that made them feel better about themselves.
