TIP OF THE DAY: Failing Now Makes For A Stronger Company In The Future

pierre omidyar

Today’s tip of the day comes from Pierre Omidyar, founder and chairman of eBay:

We had some fairly public failures in the middle of ’99, where our systems went down for 22 hours and then went down for eight hours after that….We had CNN satellite trucks in the parking lot. I mean, it was big, big. “The world is watching, this company is gone. It’s going away.”
And I think failure of that magnitude, or a challenge of that magnitude, is really important and I’m glad that we faced it so early in our evolution, because Meg, who is the CEO… she really woke up to the fact that infrastructure and technology was critical and just really built that organisation out over the next — it was a six to nine month process for us to kind of get over that.
And so I think those challenges are also really critical and really important. And what you learn from them is, of course, kind of what they say, “If it doesn’t kill you, it makes you stronger,” and it’s true.
What you learn from those challenges and those failures are what will get you past the next ones
                                                                    Pierre Omidyar, Founder and Chairman, eBay
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