'Failure itself is not the value, and the notion that people run and fail forward fast is ridiculous,' 2U CEO Chip Paucek tells businessinsider
Chip Paucek is the cofounder and CEO of the educational tech company 2U.
Research has found that about 70% of venture-backed startups, those that are looking to scale, fail to ever return money to investors. It makes sense, then, that as a startup hub, Silicon Valley would develop a particular culture around failure, where you can"fail forward" and keep throwing ideas and cash out there until something sticks and you get a billion-dollar company.
"I would say without question, the fact that I did what I did and failed is part of what makes me now, no question. But the failure itself is not the value, and the notion that people run and fail forward fast is ridiculous," he told us. "I laid off the 70 and it's the worst day of my career, without question," he said."Nothing's close, still today. If you go through that and it doesn't change you, you have no brain or soul." He shut down the Cerebellum Corporation two years later.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Paul Jacobs Retreats From Qualcomm Takeover QuestFormer Qualcomm CEO Paul Jacobs, who was ousted last year as a company director, has dropped his effort to take the chip giant private, instead choosing to focus on his networking startup Xcom Labs.
Lire la suite »
Salzgitter CEO eyes Thyssenkrupp-Tata Steel JV remedies: CEOSalzgitter's chief executive will look at any assets that Thyssenkrupp and ...
Lire la suite »
Goldman Sach CEO turns up in Saudi Arabia as uproar fades over Khashoggi killingGoldman Sachs’ David Solomon is on his first trip to Saudi Arabia as chief executive officer, the latest sign that Wall Street’s skittishness about doing business with the kingdom is fast becoming a thing of the past.
Lire la suite »
Mr. Big: Will Supersizing Restoration Hardware Stores Backfire For CEO Gary Friedman?A look under the couch cushions exposes questions about whether Gary Friedman’s strategy of opening giant stores—which he calls “galleries”—is working all that well.
Lire la suite »
Former Wow CEO: 'When the planes were grounded it was finished'Wow Air CEO Skuli Mogensen says he had faith the budget carrier would work something out to avoid shutting down until about 7 a.m., but now it is 'unfortunately out of our hands.' Follow live updates:
Lire la suite »
Wells Fargo launches search for new CEOLeading Wells Fargo should be one of the most coveted position in the banking world. The bank, the fourth-largest in the country, reported a profit of more than $20 billion last year and has more than 70 million customers. But it will be a tough position to fill.
Lire la suite »
Watch TD Bank CEO and Visa president discuss the future of financeTop executives at TD Bank, Visa and online small-business-lending firm OnDeck will discuss the future of finance.
Lire la suite »
IBM CEO Ginni Rometty's solution to closing the widening skills gap in AmericaIBM is investing $1 billion in initiatives like apprenticeships to train workers for what it calls 'new collar' jobs.
Lire la suite »