If a founder has passion and innovation, he needs to be supported. I am more intuitive than a numbers person, and I recognise that not all investments are going to be positive. Some may fail, and some may have problems for other reasons. That is life.
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If you want to be inventive, you have to be willing to fail.
If you don't give people a chance to fail... you won't innovate... if you wanna be an innovative company allow people to make mistakes.
If you punish people too much for failure, then they will respond accordingly and the innovation you will get will be very incrementalist. Nobody's going to try anything bold for fear of getting fired or punished in some way. The risk/reward must be balanced, in favor of making bold moves.
You must first be willing to fail - and you must have the courage to go for it anyway.
I'm an investor in a number of biotech companies, partly because of my incredible enthusiasm for the great innovations they will bring.
Nobody likes to fail. I want to succeed in everything I do, which isn't much. But the things that I'm really passionate about, if I fail at those, if I'm not successful, what do I have?
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