“…A potentially more valid argument against adaptation, which better reflects our findings, is the role of uncertainty and complexity in the new venture context (Knight, 1921; McKelvey, 2004). From this perspective, while young ventures are able to change, change is unlikely to improve venture performance in predictable ways because the owners are unable to determine what works and what does not with any level of satisfactory accuracy (Frankish, Roberts, Coad, Spears, & Storey, 2013; Lundmark & Westelius, 2014). Rather, our results indicate that configurations that (for whatever reason) exhibit lower short-term revenue volatility are favored by selection mechanisms.…”