Monday, June 01, 2015

Fail Fast, Fail Often, Fail Everywhere - The New Yorker

Interesting times

"Discussions about failure may come more easily in America in part because our businesspeople are so good at it. The failure rate for startups, using a yardstick in which investors lose everything (i.e., all of the company’s assets are liquidated), is between thirty and forty per cent, according to Shikhar Ghosh, a senior lecturer at Harvard Business School. The rate is seventy to eighty per cent if failure is defined as not meeting the projected return on investment, and ninety to ninety-five per cent if it is measured by failing to beat a declared projection.

Despite these statistics, Americans remain remarkably optimistic about the process—last year, venture-capital companies staked forty-eight billion dollars in pursuit of big returns."
Fail Fast, Fail Often, Fail Everywhere - The New Yorker
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