Today's hour discussion with A.C. included reviewing a startup that was shut down after its network failed under attack by spammers. It was a case of the small crushed by the giants. That happens. Sometimes it is the dragon that wins, not the hero. That is what realism is all about. Wise entrepreneurs know when to stop with that idea. They also are confident another will pop up shortly.
A.C. mused about how motivated the CEO might not have been. To him, the leader could have retreated and returned via another route. We don't know the details of the situation, but A.C. made an important point to ponder: if you are losing, when is it time to stop with that idea and retreat to think things over?
To many, retreat is failure. Especially in the traditional Asian culture. But the young Asians are much wiser and able to deal with the ups and downs of modern startups. They watched the Americans and have learned a lot. You can see how confident they are as you catch the spirit of the South Korean's as their soccer team won their first game. It is pure electricity. It is part of the character of the experienced startup CEO.
BOTTOM LINE: Be wise about when to "fold'em" like a good poker card player. He knows it is smarter to stop, lose his bets, and still have resources to play the next game. Wise entrepreneurs also know when its time to stop.
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