Failure Decoded
Failure Decoded
Parallels between history and new age innovations, prototyping & Elon Musk’s success with Erik Engheim
Erik Engheim, a software developer, educator and author, draws interesting parallels between historical events and new age innovation strategies.
He also deep dives into the hands on approach with which Elon Musk is paving the way for futuristic innovations.
In one of his many articles, Erik reiterates how people do not have to like Elon Musk to laud his accomplishments. Musk's approach to innovation largely involves iteration and prototyping. This strategy is perhaps why he can embrace failure with confidence, even when the odds are against him.
Show Notes:
6:08 - Colonizing Mars in 1980s was just talked of but governments with huge resources couldn't accomplish it. Elon Musk started these big changes.
7:35 - Iterative development and prototyping
8:30 - Differences between Elon Musk and the Soviet Union’s approach
9:26 - How Elon Musk built Space X
9:41 - Hardware rich approach: blow up a bunch of rockets
10:44 - Hands on approach versus theoretical approach to rocket building, which set Elon Musk apart
12:19 - Companies must embrace failure but need to have strategies to minimize it
18:53 - Thinking Fast Thinking Slow
19:14 - Feedback from your average customer is everything
22:05 - Sunk cost fallacy
23:00 - Elon Musk's mental stamina
26:26 - Musk doesn't accept failure, most of us are not built that way.
26:57 - Erik reflects on how he would not be able to handle failure the same way.
28:38 - Advice from Erik for software development to minimize cost, confusion and failure.
31:37 - Find effective ways to generate results in short time: Use innovative strategies, tactics.
32:39 - Finding optimal solutions: Germans’ approach
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Links:
Follow Erik Engheim on Substack and Linkedin
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