In the world of startups, 'pivot' is just a fancy word for 'our original idea didn't work.'

Correct but there's nothing wrong to admit and acknowledge that original ideas can go wrong sometimes.

Well sometimes that's not true...sometimes an idea partially worked and needs just a tiny tweak or two!

Yes, and that's great! In my understanding, a startup is NOT a business. A business is a structure with a "stable, profit-generating operating model". A startup is a temporary structure that is needed to find a “stable, profit-generating operating model.”