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HerMoney with Jean Chatzky

Ep 402: How To Fail, With Amy Edmondson

HerMoney with Jean Chatzky

Jean Chatzky Her Money

Investing, Business

4.71.5K Ratings

🗓️ 20 December 2023

⏱️ 43 minutes

🧾️ Download transcript

Summary

“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?  Join us! Snag all the latest episodes, savvy budgeting tips, investing advice, and even giveaways via the HerMoney Newsletter at Hermoney.com/subscribe! The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

You're listening to an airwave media podcast.

0:06.0

Her money is proudly sponsored by Edelman Financial Engines.

0:09.0

Health care costs are on the rise and taking care of our health is one of the most important

0:14.8

moves we can make for our lives and for our finances.

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Make a plan for managing your health care costs with the help of a complementary wealth checkup at plan E.F.com

0:26.1

slash Her Money.

0:30.0

This episode is brought to you by Oracle.

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Do more and spend less, like Uber,

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Oracle.com slash enhance.

1:01.6

The bigger risk is we toxify failure so much that people are then unwilling to speak up with the small signals that something might be off in time to catch incorrect and then avoid the big failures because I'm a big fan of avoiding big failures.

1:17.0

Hey everyone, I'm Jean Chatsky. Thank you so much for joining me today on

1:24.8

Her Money. Move fast and break things. That was Mark Zuckerberg's now famous early

1:31.5

motto for Facebook. Fast forward to today, many startup

1:35.5

founders have come to live by this idea that if you're not getting messy, if

1:41.1

you're not failing often, you are not making progress and you're definitely

1:46.3

not creating the next Facebook. Recently though, there has been some backlash to this startup culture mentality, especially in the wake of the 2018

...

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