I think it's more troubling that small business formation is declining than you think. Small businesses provide a way for smart and hard-working people to improve their financial situation when they don't have other options available to them. Startups mainly help people who could have gotten a 6 figure job to potentially make even more. I'm not trying to criticize startups, but I think it's clear that a society where people can move out of poverty is a better one than a society where people remain in poverty but can move from the middle to the upper class.