ISET Economist Blog

A blog about economics in the South Caucasus.

Failure is Always an Option! Or is it?

“The type of failure we’re talking about is like how frogs lay 20,000 eggs so a few wind up as adults sitting on a lily pad sucking down mosquito dinners” is how the author of the recent Newsweek article describes the rate of failure it takes to breed a handful of unicorns-tech startups valued at more than $1 billion. Failure has increasingly become a chapter in success stories; stories which inspire a new generation of entrepreneurs to try, fail, try again, and succeed. Economics, as we have come to know it, is about efficient allocation of resources. R...
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