Of all the species that have ever lived on
Earth, only about 1 in a 1000 of them are
still around.
The vast majority of the extinct species died
out within ten million years of their first
appearance in the fossil record. This is a
very short time. This is probably evidence
of evolutions which were not successful --
species were produced that ultimately had
evolutionary disadvantages.
Sometimes many, many species all seem to disappear
from the fossil record at the same time. We
call these
disappearances mass extinctions.
http://www.carleton.ca/~tpatters/teaching/intro/extinction/extinction1.html