The title is misleading - in this description there is no business to fail. It's a start-up that's not going to succeed, not a business that's failing.

Having said that, all the points are valid, but they're all made by Paul Graham in his essays, and mostly better.

http://www.paulgraham.com/really.html

http://www.paulgraham.com/13sentences.html

http://www.paulgraham.com/articles.html

Yes, the article only has one sign (hubris), spelled out repetitively in 19 numbered paragraphs.