How Embracing Failure Can Lead to Success in Startups

Name: How Embracing Failure Can Lead to Success in Startups
Uploaded: 2024-02-28T16:01:37+00:00
Duration: 40 s
Channel: Jason M. Lemkin
Description: Jason M. Lemkin argues that startups that tolerate failure encourage bolder ideas, while punitive cultures stifle them. Unlike Google and Adobe, which…

28 Feb 2024 · 1 min

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Jason M. Lemkin argues that startups that tolerate failure encourage bolder ideas, while punitive cultures stifle them. Unlike Google and Adobe, which rarely fire people for failed projects, startups often fire employees over a single product misstep. Reducing the personal cost of failure lets teams experiment.

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because you're taking away from something else, right? These are expensive decisions. And I were, if you punish people from the, for the mistakes in product, right? This is something that big companies are actually better at than startups, which is they don't fire you if the new initiative fails, right? Because then no one at a big company would ever join the new initiative, right? There are exceptions, but no one at Adobe or Google would work on the new product if it, if it, if you got fired, if it didn't hit 100 million its first year. But so one thing I saw that was very, that I, and I don't know how to bring the startups in, my big company experience was it's liberating to some extent to let people fail, uh, up to a point, right? It's liberating because the cost of failure in a startup is so high, isn't it?