Over the past 4 years, I have been fortunate enough to test nearly 250 ideas at Pioneer Square Labs. Almost every single one of the 25 spinouts went on to become venture-backed companies and the other 225 were killed. (You can read more about how we kill ideas here). That means that 90% of the ideas we tested were killed. You would think a 90% failure rate would be a bad thing, but it’s actually what I’m most proud of.