This is one big reason why we don’t do as well as our friends in the US.
They will bet the farm on a good technology, a clear marketing focus and great people so that if they win, they win big. And they lose big too. They accept ‘creative destruction’ and move on.
We tend to settle for lower goals, lower risks, lower returns and faster exits. With some glorious exceptions, we don’t have big technology firms because we are punished for failing rather than supported for trying.
Who has not learned enormous lessons from big failures? Perhaps we need a very public forum for those who rolled the dice and lost to tell us how they blew it and what they are doing next? I am sure our culture might even find government grants to support this in the name of free speech? Facebook for Failures? Twitter for Turkeys?
