Ep 402: How To Fail, With Amy Edmondson

HerMoney with Jean Chatzky

“Move fast and break things.”

That was Mark Zuckerburg’s now-famous early motto for Facebook. Fast forward to today, many budding startup founders have come to live by this idea — that if you’re not getting messy and failing often, you’re not making progress — and you’re definitely not creating the next Facebook. Recently though there’s been some backlash to this startup culture mentality (Ahem, the FTX scandal.)

But where’s the balance? How can we encourage creativity and innovation and at the same time not move so fast that we harm others and look completely careless? Amy C. Edmondson, author of Right Kind of Wrong: The Art of Failing Well, explains the difference between “bad failure” and something she says we all should be seeking out in our day-to-day lives — “good failure.”

In Mailbag, we hear from a listener who asks how to politely deal with a parent who insists on buying her gifts for the holidays, and we hear from someone who just filed for bankruptcy and is wondering what they should prioritize paying off first. For our money tip of the week, Costco recently started selling gold bars (that’s right, real gold bars) and can’t seem to keep them in stock. Should you buy one?

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