Without this mindset, we will never become a developed country, and this time the problem does not lie with the state at all. It is much broader. This also applies to some libertarians, as without adopting the philosophy described below, we will never overcome the stationary bandit!
“A very important point is the tolerance for failure. That is, failing in the Valley is not a disgrace. If I am reviewing resumes and a person comes to an interview and says, ‘I failed a startup and now I’m looking for a job,’ or, say, ‘I’ve had two serious failures,’ I don’t look at it as, ‘Oh damn, I don’t want that,’ but rather as the fact that they have the experience of failure, and therefore they are more valuable than someone who has never failed. He’s a guy with experience. And moreover, a guy who has proven that after a failure, he can get up and move forward. This is super important because in what you do here, failure is practically a mandatory part of the game. You fail constantly because you are constantly trying new crazy ideas. If you aren’t failing, it means you are being too risk-averse. This is very important.”
And the last thing that, in my opinion, probably strongly affects not only business but society itself is, in principle, acceptance, tolerance for the crazy, the unfamiliar, the unusual, all sorts of crazy stuff. Because in reality, all cool ideas are crazy at first. If you cannot accept people who dress differently than you like, or behave differently than you like, or something like that, then most likely such a society will not support some new crazy idea, like: ‘Let’s make a social network where everyone has real names and they share photos there.’ This idea, when Facebook was starting, seemed crazy. Nobody used their real names on the internet. But venture capitalists believe and give money precisely because they are accustomed to the idea that crazy ideas are good. And they know that they can fail.”