Failure itself is not a virtue - just a fact of life. It's what you do with that failure that counts:
http://blogs.hbr.org/2007/06/learning-from-success-and-fail/ Cheers, Matt > On Jun 15, 2014, at 12:32 PM, Alex North <a...@alexn.id.au> wrote: > > Very interesting, thanks Geoff. Particularly the actual data point that past > failure didn't improve chances of future success. If evidence accrues for > that it should change the impact calculations for demonstrated-mediocre > entrepreneurs. But what's the background failure rate? 80% doesn't seem that > high anyway. > > >> On Fri, Jun 13, 2014 at 1:22 PM, Geoff Langdale <geoff.langd...@gmail.com> >> wrote: >> Interesting tidbits, here: >> >> http://www.newyorker.com/talk/financial/2014/05/19/140519ta_talk_surowiecki >> >>> On top of this, there’s a widespread tendency to treat failure as a badge >>> of honor: “Fail fast, fail often” is a familiar mantra in Silicon Valley. >>> There’s now a regular FailCon, where people come to hear other >>> entrepreneurs tell about the hard times they endured and about how starting >>> a business and failing actually makes you more likely to succeed in the >>> future. It’s a comforting message, but the evidence suggests that past >>> failure really just predicts future failure. A 2009 study of venture-backed >>> firms found that entrepreneurs who had failed in the past were not much >>> more likely to succeed in new ventures than first-time entrepreneurs >>> were—some eighty per cent of those who had failed before failed again. A >>> later study of more than eight thousand German ventures came to an even >>> grimmer conclusion: founders who had previously failed were more likely to >>> fail than novices. >> >> Some interesting stuff in the article about overconfidence, too - worth >> considering in the light of the recent thread about founders and depression: >> >>> And that’s because the fundamental characteristic of entrepreneurs isn’t >>> risk-seeking; it’s self-confidence. A 1997 study in the Journal of Business >>> Venturing found that entrepreneurs are overconfident about their ability to >>> prevent bad outcomes. They’re also overconfident about the prospects of >>> their business. A 1988 study in the same journal of some three thousand >>> entrepreneurs found that eighty-one per cent thought their businesses had >>> at least a seventy-per-cent chance of success, and a third thought there >>> was no chance they would fail—numbers that bear no relation to reality. A >>> recent paper called “Living Forever” notes that entrepreneurs are more >>> likely than other people to overestimate their life spans. >> >> No citations as it's just a talk piece. Not sure I buy it but an interesting >> perspective nonetheless. >> -- >> -- >> You received this message because you are subscribed to the Silicon Beach >> Australia mailing list. Vist http://siliconbeachaustralia.org for more >> >> Forum rules >> 1) No lurkers! It is expected that you introduce yourself. >> 2) No jobs postings. 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You can use http://siliconbeachaustralia.org/jobs > > > To post to this group, send email to > silicon-beach-australia@googlegroups.com > To unsubscribe from this group, send email to > silicon-beach-australia+unsubscr...@googlegroups.com > For more options, visit this group at > http://groups.google.com/group/silicon-beach-australia?hl=en?hl=en > > --- > You received this message because you are subscribed to the Google Groups > "Silicon Beach Australia" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to silicon-beach-australia+unsubscr...@googlegroups.com. > For more options, visit https://groups.google.com/d/optout. -- -- You received this message because you are subscribed to the Silicon Beach Australia mailing list. Vist http://siliconbeachaustralia.org for more Forum rules 1) No lurkers! It is expected that you introduce yourself. 2) No jobs postings. 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