The tiny cost of failure...is dwarfed by the huge cost of not trying.
It does not matter how frequently something succeeds if failure is too costly to bear.
In certain businesses, I would say 10 failures to one success is a perfectly acceptable ratio. Because the failures die pretty quickly, they're not that expensive, and the successes can be really huge.
The cost of assessing risk is now often greater than the cost of failing.
We have to provide more visibility, more certainty to the investors and reduce the cost of failure.
Want to increase innovation? Lower the cost of failure.
Failures are cheap if you do them first. Failures are expensive if you do them at the end.
In any endeavor, you have to understand your tolerance for risk. What's a failure you can afford?
It's much easier to fail when you're in the pilot, early stage, when it's less expensive and you're exploring than when you're way out the door and you've spent all this money. Industry is smart: structured to have skunkworks and pilot phases.
If we miss this chance to make a fresh start, we may look back on this moment from some later vantage point and realize how much that failure cost us all.
The cost of failure is really high when you're contributing as yourself.
