There Are 3 Types of Failure. Only 1 Is Good.
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Forgetting to hit send and launching a business that flops both count as failure, but they shouldn't get the same reaction. Drew and I wrap up this episode through a story of a young Harvard researcher who found that the best hospital teams reported the most mistakes. She thought she'd botched her research, until she realized what was really going on. Her work gives us three types of failure: the kind to fix and forget, the kind to catch early, and the kind worth chasing for the lesson. We also share why a failed startup barely improves your odds the second time, five questions that tell you whether it's time to quit, and why the right moment to quit almost always feels too early.
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CHAPTERS
00:00:00 Introduction: The Backwards Data That Changed Everything
00:03:32 The Three Types of Failure: Basic, Complex, and Intelligent
00:07:55 The 85% Rule: Finding the Optimal Failure Rate
00:11:08 Why Successful Founders Learn More From Success Than Failure
00:15:04 Hormesis and the Dumbbell Paradox: When Failure Makes You Weaker
00:18:32 Premortems and Loss Framing: Engineering Better Failures
00:24:21 The Art of Quitting: When Persistence Becomes Stupidity
00:28:22 The Five Questions: Attainability, Reversal, Approach vs Avoidance
00:31:56 The Desert Island Test and Elon Musk's 10% Rule
00:36:44 Mastery Goals vs Performance Goals: The Most Important Distinction
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