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563. How to Succeed at Failing, Part 3: Grit vs. Quit

Freakonomics Radio

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The Value of Failure: Celebrating the Persistence of Entrepreneurs

Entrepreneurs like John Boykin, Jill Hoffman, and Travis Thull faced failure, a common experience as statistics show high business failure rates. Despite the low success odds, failures by entrepreneurs contribute significantly to innovation and societal progress. Encouraging entrepreneurial experimentation, even if it leads to failure, is crucial for advancing civilization. Embracing failures as part of the journey can ultimately lead to collective success, making the willingness to fail a valuable trait. Celebrating failures can be seen as a positive mindset, recognizing that continuous attempts and failures drive innovation and advancement in society.

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