The institutional forgiveness angle is brilliant because it reframes failure as accumulated information rather than reputation damage. Most ecosystems optimize for avoiding embarassment which systematically kills the tail before it appears. The Bay Area tolerating founders who burned capital and staying in the game isn't cultural niceness, its economic infrastructure for preserving optionality. Treating time as a strategic variable that can be extended rather than minimized is such a simple insight but totally counterintuitive to quarterly-driven systems.
The institutional forgiveness angle is brilliant because it reframes failure as accumulated information rather than reputation damage. Most ecosystems optimize for avoiding embarassment which systematically kills the tail before it appears. The Bay Area tolerating founders who burned capital and staying in the game isn't cultural niceness, its economic infrastructure for preserving optionality. Treating time as a strategic variable that can be extended rather than minimized is such a simple insight but totally counterintuitive to quarterly-driven systems.
Quarterly (or daily!) reporting is terrible for anyone or anything trying to create value, it seems!
this is spot on
Thanks for reading Jahed!
Wonderful read, really liked the comparison between the east and the west coast