This research investigates whether or not repeatedly successful entrepreneurs view their initial venture ideas as changing after their discovery compared with discontinued entrepreneurs. Many scholars have argued that learning occurs across time; identification is a social process; identification is an interactive process; and that it is naïve to think that identification is a one-time event (Archichvili, Cardoz & Ray, 2003; Dimov, 2007; klein, 2008; Sarason, Dean & Dillard, 2006). These arguments often came in response to the work by Austrian economists who asserted that at least some ideas exist ready to be discovered (Fiet, Piskounov & Patel, 2005; Shane & Eckhardt, 2003). Hidden in this debate is a secondary one that is as much ontological as it is epistemological. Namely, some have argued that it is a disagreement between those who see greater value in an economic approach, which can be externally validated (Fiet, 2007; Kirzner, 1973, 1979; Shane, 2000) versus a cognitive or psychological approach that is used in different ways by all humans (Baron, 2004; Corbett, 2007). We indirectly examine these scholarly distinctions by comparing repeat and discontinued entrepreneurs.