‘ve written about this in the past. One of the best ways to get smarter and better at something is to do frequent postmortems after bad decisions. We do it in our firm. When we screw something up, we go back and analyze why it happened, what we did wrong, and what we could have done better. It is incredibly useful.
I selected those three quotes for reasons. The first quote is great because Marc is taking full responsibility for the company’s failure. In fact, it was not entirely his failure. It was the failure of everyone who was involved including the board and investors. But one secret to good postmortems is not blaming others. When you start by blaming others, you don’t get to the truth.
I applaud Marc’s courage and honesty in writing this post. I encouraged him to do it a while back and he did it. Bravo Marc.