We identify a model of early-stage company growth persistence. Using seven commercial high-growth company lists (either a Top 100 or 500 list), we find that 30% of companies remain on these lists for two consecutive years. This figure also approximates the likelihood of companies on the list in the first year being ranked for a subsequent year. To probe explanations for the 30% consistency, we examine the Inc. 5000 list that Inc. magazine has published since 2007. We find that many companies have significant drops in their growth rates after the year in which they are included in the more demanding Inc. 500 list—a classic mean reversion, or what we call the “gravity effect.” Next, using both revenue and headcount ORBIS data for 11 different countries, we document how the reported growth persistence depends significantly on the choice of growth measure. The use of longer periods to estimate growth and of average year-by-year growth (rather than last versus first year difference) increases the ability to identify companies with sustained high growth. These results, which hold for both revenue and headcount growth, highlight how reported (persistence) growth rates can be engineered by the specific growth metric choices made. They also highlight how choices made by those publishing high-growth company lists have an agenda such that their lists understate the likelihood of early-stage companies achieving sustained high growth. The implications for research, for media publishing high-growth company lists, and for the management of early-stage companies are discussed.