InfinityX0

In responding to the question "How important is failure in business?".

"I think failure is massively overrated. Most businesses fail for more than one reason. So when a business fails, you often don't learn anything at all because the failure was overdetermined. You will think it failed for reason 1, but it failed for reasons 2 through 5. And so the next business you start will fail for reason 2, and then for 3 and so on."

-Peter Thiel on Tim Ferris podcast (http://fourhourworkweek.com/2014/09/09/peter-thiel/), grabbed from his recent book, Tools of Titans

Definition of overdetermined: "To determine, account for, or cause something in more than one way or with more conditions than are necessary."

Curious - how much did you have? Did you save up a ton of cash? Not much at all and take the plunge? Somewhere in the middle? Would be great to know the type of business as well.