This is something you could empirically study. Looks like this NASDAQ study from a few years back has some numbers. At 3 months, that’s what’s in their chart, it’s still about 50/50. At 3 years it’s 29% with returns greater than 10% and 69% with returns greater than -10%.

https://www.nasdaq.com/articles/what-happens-to-ipos-over-th...

Most companies are not successful. That's all you need to know.