How many didn't you see because they got strangled in the crib by regulation?
Don't get me wrong, regulation is a serious topic, but for startups outside of specific domains such as healthcare, it is not realy a thing that seems to stop people from entrepreneurship.
Part of that is certainly that startups just don't care that much and have a we'll worry about that once we are making our first 10 million arr attitude.
The ones that got to the point of applying for the first funding are the survivors in the survivorship bias.
You can add at least 1 prospective company to that number. Mine.
I wanted to do something, but the costs of compliance were so high it would be stupid of me to even try.