Baba Shiv, professor at Stanford Graduate School of Business said ‘Failure is the mother of invention’. Jeff Bezos, emphasizes how Amazon’s new ventures had either no impact or negative impact on revenues for the first 5-7 years. There is an internal joke in bay area that if you have co-founded a startup, failed miserably then Google will hire you as a ‘Product Manager’. This embraces the fact that Silicon Valley celebrates failure and is not afraid to try out new things.
Further reading at Amazon.