563. How to Succeed at Failing, Part 3: Grit vs. Quit

Episode Summary

Executive Summary: This episode explores the tension between grit and quitting across invention, academia, art, and love. Through failure stories from entrepreneurs, scholars, and artists, it argues that quitting can be rational when costs outweigh prospects, but that failure is also socially valuable because experimentation drives innovation and growth.

Main Topics: Grit vs. Quit as a Core Human Dilemma (Priority: 5/5): The host frames the episode around a central question: when should people persist and when should they move on? The discussion contrasts psychological grit with economic ideas like opportunity cost and sunk cost fallacy. Entrepreneurial Failure and Home Invention (Priority: 5/5): Inventors Travis Thull, Jill Hoffman, and John Boykin describe building products that had promise but failed commercially due to funding barriers, market resistance, technical problems, or rising costs. Failure in Academia and the Need for Visibility (Priority: 5/5): Scientists Melanie Steffen and Mike Ridgeman show how academic careers can be precarious and how failure is often hidden. The episode highlights the value of openly documenting rejections and dead ends. Failure as a Source of Learning and Innovation (Priority: 4/5): The episode argues that failures should not only be tolerated but studied, because unsuccessful attempts can reveal flaws more clearly than polished success stories and can push civilization forward. Personal Costs: Shame, Identity, and Timing (Priority: 4/5): Several speakers describe the emotional burden of failure—shame, loss of identity, and the pain of seeing long investments collapse. The show also suggests that timing can turn failure into success later. Failure in Love and Second Chances (Priority: 3/5): Helen Fisher’s story shows failure in romance as temporary rather than final. Her experience reinforces the episode’s theme that outcomes may change with time and circumstances.

Key Arguments: Quitting is not always weakness; it can be a rational response when a project is unlikely to succeed and resources are better allocated elsewhere. Grit and perseverance are often praised, but they can also trap people in failing efforts because of laziness, fear, impatience, or sunk costs. There is no objective signal that tells people exactly when to persist or stop; judgment depends on resources, tolerance for pain, and available alternatives. Failure stories are under-told compared with success stories, even though they may be more instructive for learning and self-awareness. Innovation often comes from users and hobbyists, so society benefits when people keep experimenting even if most attempts fail. Academic culture especially hides failure, making rejection feel isolating and encouraging only polished success narratives. Publicly sharing failure, such as through a CV of failures, can reduce shame and help younger people understand that setbacks are normal. Sometimes what looks like failure at one moment can become success later if conditions change or if the idea is revisited with new funding or strategy.

Data Points: Failure rate of new businesses in first 2 years: 20% - Cited to show that entrepreneurial failure is common. Failure rate of new businesses in first 5 years: 45% - Used to illustrate the high odds against startups. User-developed basic innovations: about half - Eric von Hippel says roughly half of basic innovations in every field are done by users. Academic contingent faculty share: more than two-thirds - Describes how adjunct and contingent teaching positions now make up the majority of college teaching jobs. Adjunct teaching pay: a few thousand dollars per course - Explains why adjunct life is financially precarious. Ramen Now funding request: $200,000 to $300,000 - Manufacturing/tooling money appliance companies said they needed up front. Ramen Now Kickstarter success odds: about 10% - Travis Thull’s own estimate for raising money through crowdfunding. Length of Helen Fisher relationship before breakup: 6 months - She was dumped after dating the journalist she later married. Helen Fisher’s age at breakup: 70 - She describes being dumped at age 70 before later reconciliation. Wings Over Water installation timeline: few months - Joseph O’Connell had to build and install the sculpture by Super Bowl 51. Temperature during Texas freeze: around 10 to 20 degrees - Freeze damaged the Houston sculpture’s helix structure.

Pivotal Quotes: "It is a compliment to be called a quitter precisely because we live in a world where so many forces push us to persist far too long at failing endeavors." — Steve Levitt: The show introduces the economic case for quitting rather than endless persistence. "If I could have had those stories earlier on, I wouldn't have felt so incredibly alone. Like I was the only one." — Jill Hoffman: She explains why sharing failure stories matters psychologically. "We don't want to discourage entrepreneurs from trying things out, even though the chances of success are so low. It's not a good gamble for the entrepreneurs, but it's good for our society." — Stephen Dubner: The host summarizes why society benefits from repeated attempts even when individual outcomes fail.

Implications: Listeners are urged to treat failure as informative, not shameful, and to weigh persistence against realistic costs. For innovators and institutions, more openness about setbacks could improve judgment, learning, and eventual success.