"If anyone tells you they learn more from failure than success, then they’re wrong. You learn more from success. "
Looking at it from a binary, black and white point of view, then I'd argue you learn the same whether you succeed or fail. Elon's point is true, if you succeed you have learnt that what are you doing is correct, and works. Whereas if you fail, you've learnt that what you were doing was wrong and didn't work. In both cases you've learned something. The only difference is that failure creates more opportunities to learn again. If you've got a winning formula, you're unlikely to change it, whereas if you fail and start again, you can then learn if your new formula is any better and repeat until you win.
One problem with this generalisation however, is that life isn't just win or lose. It's made up of many wins and many losses and it's easy for one big win, or one big loss, to hide all of the other achievements. I'm sure SpaceX and PayPal have had more than their fair share of failures but their one big "win" (The ability to make money, although not yet in SpaceX's case) is overlooked.
I agree that success and failure are both inevitable and part of a symbiotic process of progress, but as far as the individual entrepreneur is concerned, failure doesn't need to be an option. I've met way too many entrepreneurs in the city who crash hard and then boast about it as if they're some kind of sexy daredevil living on the edge. It's not healthy. Let's stop glamorizing failure.
"failure doesn't need to be an option"
You can't mitigate against failure completely, especially if you're gambling big.
Infact I'd argue that PayPal has failed as it is has not replaced banking to the levels it was initially envisaged. If anything, it's relevance today is being eclipsed by other technologies, easier payment by actual banks for one thing.
There's also the difference of learning from your own success or failures (what's not working), vs. watching/observing and learning from others - seeing what succeeds/works, and what doesn't and why.
Comments
Looking at it from a binary, black and white point of view, then I'd argue you learn the same whether you succeed or fail. Elon's point is true, if you succeed you have learnt that what are you doing is correct, and works. Whereas if you fail, you've learnt that what you were doing was wrong and didn't work. In both cases you've learned something. The only difference is that failure creates more opportunities to learn again. If you've got a winning formula, you're unlikely to change it, whereas if you fail and start again, you can then learn if your new formula is any better and repeat until you win.
One problem with this generalisation however, is that life isn't just win or lose. It's made up of many wins and many losses and it's easy for one big win, or one big loss, to hide all of the other achievements. I'm sure SpaceX and PayPal have had more than their fair share of failures but their one big "win" (The ability to make money, although not yet in SpaceX's case) is overlooked.
I agree that success and failure are both inevitable and part of a symbiotic process of progress, but as far as the individual entrepreneur is concerned, failure doesn't need to be an option. I've met way too many entrepreneurs in the city who crash hard and then boast about it as if they're some kind of sexy daredevil living on the edge. It's not healthy. Let's stop glamorizing failure.
Infact I'd argue that PayPal has failed as it is has not replaced banking to the levels it was initially envisaged. If anything, it's relevance today is being eclipsed by other technologies, easier payment by actual banks for one thing.
There's also the difference of learning from your own success or failures (what's not working), vs. watching/observing and learning from others - seeing what succeeds/works, and what doesn't and why.