April 28, 2004 presentation by Randy Komisar for the Stanford Technology Ventures Program Entrepreneurship Corner in the School of Engineering at Stanford University.
According to Randy Komisar, a partner at Kleiner Perkins Caufield & Byers, what distinguishes the Silicon Valley is not its successes, but the way in which it deals with failures. The Valley is about experimentation, innovation, and taking new risks. Only a small business that can deal with failure and still make money can exist in this environment. It is a model based on many, many failures and a few extraordinary successes.
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