Another 2010 study found that for all but seven years between 1977 and 2005, existing firms were net job destroyers, losing a combined average of 1 million jobs per year. By contrast, new firms in their first year added a combined average of 3 million jobs [Kane, 2010]. Venture-backed companies such as Amazon, Netflix, Apple, Google, Facebook, and Salesforce have accounted for significant new employment over the past two decades.
