Great article! I really enjoyed reading it. Steve Jobs is for me a great entrepreneur and innovator. He had so many downs in his life that made him to learn and beucase of that he made Apple such a successful company! We’ve written a similar piece about startup cultures!
If we disregard really sucking startup ideas, then the main reason of failure will indeed be finance.
I was the first employee in a great startup, and we had a good thing going on. However, after one year, I just couldn’t keep on borrowing money to pay my bills, so I had to leave.