When it’s good to fail…

The trip to Silicon Valley, as I’ve already blogged about, threw up many interesting insights into life and culture there and what I can only describe as the
US get up and go approach to business – a real entrepreneurial spirit. You could feel the energy as you drove down route 101 through the valley.
An insight I really took away as being one of the many differences that exist between the valley and the
UK was one of culture and approach. Ross Mayfield, who I was lucky enough to meet, mentioned that the
US has a culture of failure, where failure is acceptable. VC’s evidently would often much rather invest in someone who had failed twice than someone who’d just had one success, failure makes you stronger.  Someone who has failed before should have learnt more. What a refreshing approach, far away for the climate of investment that exists in the
UK…
More musings from the trip to the valley to come…

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One response to “When it’s good to fail…

  1. Too true. An apt point. Chapter 11 (which can of course be abused by Zombie Companies, as many undead US airlines are) and personal bankruptcy laws also help with this and people are personally untainted. Access to capital in the UK has always been an issue. In the mid-60s the old Rover Company had two years worth of orders for its P6 saloon and waiting lists in all markets. No bank would loan them the cash to extend their production line and they soon found themselves forced to become part of Leyland (and doomed). One old example of many…

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