Failure is the most likely outcome of entrepreneurship. Hence there is absolutely nothing wrong with failure. It is the default outcome. Success on the other hand is rare and unpredictable. Very few find it. However what can help entrepreneurs succeed is when an ecosystem learns from failure.

Well, maybe it was successful in the end. But, I mean, to get there - one of the things that I talk about is not to be afraid of failure because you're going to fail. And I was 19 years old. I was competing in the Mr. Universe contest, and I lost. I had movies that went in the toilet. I have had policy issues and referendums that went in front of the people that I lost. And, of course, in my personal life, you know, my marriage is a big loss. So there's a lot of losses and failures that I've had. And I think that it is important that we recognize that. But no matter what it is, I always had an exciting life and always chased something, and that made, to me, the whole thing worth it. I always felt I was enriched by the fact that I always knew where I was going. And then there were some things that were unexpected. Like, running for governor was something that kind of unfolded only because there was a recall election.

I got quite nice results in my one-question studies, but never wrote up any of the work, because I had set myself impossible standards: in order not to pollute the literature, I wanted to report only findings that I had replicated in detail at least once, and the replications were never quite perfect. I realized only gradually that my aspirations demanded more statistical power and therefore much larger samples than I was intuitively inclined to run. This observation also came in handy some time later.

A period of transition to a new quality in all spheres of society's life is accompanied by painful phenomena. When we were initiating perestroika we failed to properly assess and foresee everything. Our society turned out to be hard to move off the ground, not ready for major changes which affect people's vital interests and make them leave behind everything to which they had become accustomed over many years. In the beginning we imprudently generated great expectations, without taking into account the fact that it takes time for people to realize that all have to live and work differently, to stop expecting that new life would be given from above.