The whole purpose of annual reviews is to keep you abreast of whether or not you are fulfilling the requirements of tenure.
If I had my way, I wouldn't do annual reviews, if I felt that everybody would be more honest about positive and negative feedback along the way. I think the annual review process is so antiquated.
Startups are rapidly changing systems. If you use an annual review cycle, you aren't getting feedback at the same pace that you need to adapt and change the business.
Annual plants are nature's emergency medical service, seeded in sounds and scars to hold the land until the perennial cover is re-established.
Reviews condition people. At the end of the day, a lot of human minds are malleable. They can be easily shaped with strong words.