Thursday 24th August 2017

    The art of failing well!

    Amazon's Fire Phone was a failure. It's the kind of thing most managers hope people soon forget about. But Amazon embraced it. Jeff Bezos said in an interview not long after the phone was pulled: "If you think that's a big failure, we're working on much bigger failures right now. I am not kidding. Some of them are going to make the Fire Phone look like a tiny little blip." Netflix just announced the cancellation of several expensive original shows. This is also the kind of thing most media CEOs get mad at and demand a strategy shift. Which is what Reed Hastings did. Except his demand was that more Netflix shows should fail: "Our hit ratio is way too high right now. I'm always pushing the content team. We have to take more risk. You have to try more crazy things, because we should have a higher cancel rate overall." Amazon and Netflix owe a lot of their success to their ability to fail well. More here


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