Quote:
Originally Posted by $5 submissions
Exactly, Lenny. The key is to keep learning from the past and keep trying. Andy Grove of Intel once said (paraphrasing)--in my life, I've built 99 companies, all of them eventually failed, my 100th was Intel.
Failures and setbacks are just lessons on the way to success.
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Elizabeth Warren, a Harvard professor and expert on bankruptcy and contract law, says that one of the reasons the entrepreneurial spirit is so strong in America is because of our liberal bankruptcy laws.
People are more willing to take a risk if they're not afraid of having a debt hanging over their head for the rest of their lives, or passed on to their children etc.
You can take a risk and if it doesn't work out, you go back to zero and start over.
The list of people I posted are people who did exactly that. Eventually most of them got it right.
I heard somewhere once that the average millionaire has filed bankruptcy 1.7 or 2.7 times in their life, but I tried researching that when I put that list together and wasn't able to verify it.
