Freakonomics Radio 169. Failure Is Your Friend
Jun 5, 2014
Speakers discuss the importance of embracing failure for growth. They explore examples and the stigma surrounding failure. The podcast also explores the impact of software decisions on our digital world and the evolution of the internet. The Challenger Shuttle launch and efforts to make soccer more popular in the U.S. are also discussed.
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Steve Levitt's Early Failures
- Steve Levitt recounts his repeated failures in golf and economics before finding his niche.
- His early failure helped avoid wasted effort on unattainable goals.
Retailer’s False Optimism
- A retailer's culture discouraged admitting problems, leading to misleading optimism about a store opening.
- An internal prediction market revealed the store would not open on time, contrary to team leaders' reports.
Challenger Launch Warning Ignored
- Alan McDonald warned NASA the Challenger launch was unsafe due to cold affecting O-rings.
- His refusal to sign the launch went unheeded, leading to tragic explosion soon after liftoff.