Quote

Failure is inevitable; it happens all the time in a complex economy.

I would say raising capital is one of the weakest things for most entrepreneurs.

In the struggle between capital and labor, more often than not capital has won, because the real source of value for most companies has historically been the hard assets that they owned and controlled.

The federal government has been a proven failure in picking winners and losers in the energy sector.

Many businesses fail because the owner wasn't willing to invest and wasn't educated on the difference between spending money frivolously and investing money into the business for growth, and the risks and rewards of that cash infusion.

Solyndra's failure isn't a reason for the government to give up on alternative energy, any more than the failure of Pets.com during the Internet bubble means that venture capital should steer clear of tech projects.

It is the essence of innovation to fail most of the time.

You will always need more capital than you think, because it will always take you longer to reach profitability than you can imagine.

I have seen many successful people fail after they start fearing they might lose what they have built.

But our energy woes are in many ways the result of classic market failures that can only be addressed through collective action, and government is the vehicle for collective action in a democracy.