Don't be scared of the ‘what ifs,’ because the truth is, the only failure is not trying. That's the only way you can fail. Trying and having it not work out isn't failure.

We made one mistake in a story in which we said that — Woodward and Bernstein said — that there was a slush fund of $300,000 set up in the Committee to Re-elect the President, and it was controlled by Haldeman, and that one of the witnesses had testified to that slush fund to the grand jury investigating Watergate. ... It turned out that he hadn’t been asked, and that interested us a great deal, because if the prosecution wasn’t asking him those interesting questions, that suggested that there was a reason they weren’t, and the reason might be that they were trying to cover it up. Anyway, it took two days, and we got confirmation that there was, and in fact there was a slush fund of $750,000.

I was prepared to fail. I was prepared to not be able to get things accepted, because I saw that happen to my mother.

I feel that because I challenge myself so often, sometimes I will fail. This is, to me, the essence of competition — that there will be both winners and losers. But I have great faith in myself that I will turn this loss into something positive.

Under the stress of the event, we felt, the soldiers' true nature would reveal itself, and we would be able to tell who would be a good leader and who would not. But the trouble was that, in fact, we could not tell. Every month or so we had a "statistics day," during which we would get feedback from the officer-training school, indicating the accuracy of our ratings of candidates' potential. The story was always the same: our ability to predict performance at the school was negligible. But the next day, there would be another batch of candidates to be taken to the obstacle field, where we would face them with the wall and see their true natures revealed. I was so impressed by the complete lack of connection between the statistical information and the compelling experience of insight that I coined a term for it: "the illusion of validity."

Amos and I shared the wonder of together owning a goose that could lay golden eggs – a joint mind that was better than our separate minds. … Some of the greatest joys of our collaboration-and probably much of its success – came from our ability to elaborate each other's nascent thoughts: if I expressed a half-formed idea, I knew that Amos would be there to understand it, probably more clearly than I did, and that if it had merit he would see it. Like most people, I am somewhat cautious about exposing tentative thoughts to others – I must first make sure that they are not idiotic. In the best years of the collaboration, this caution was completely absent.