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The concept has been widely employed as a metaphor in business, dating back to at least 2001. [5] It is widely used in the technology and pharmaceutical industries. [2] [3] It became a mantra and badge of honor within startup culture and particularly within the technology industry and in the United States' Silicon Valley, where it is a common part of corporate culture.
Fail fast may refer to: Fail fast (business), a concept in business management; Fail-fast system, a concept in systems design This page was last edited on 16 ...
In systems design, a fail-fast system is one that immediately reports at its interface any condition that is likely to indicate a failure. Fail-fast systems are usually designed to stop normal operation rather than attempt to continue a possibly flawed process.
But research suggests that 65% of start-ups fail because of one particular problem: people. ... I think start-ups in general think, it's always good to pivot quickly and fail fast, etc. Well ...
Lean thinking has to be understood well by all members of a project, before implementing in a concrete, real-life situation. "Think big, act small, fail fast; learn rapidly" [ 8 ] – these slogans summarize the importance of understanding the field and the suitability of implementing lean principles along the whole software development process.
But I think that Jensen is thinking about a legacy of changing the entire paradigm about the way the world is. Jensen is creating single handedly an industrial revolution.”
Lean startup is a methodology for developing businesses and products that aims to shorten product development cycles and rapidly discover if a proposed business model is viable; this is achieved by adopting a combination of business-hypothesis-driven experimentation, iterative product releases, and validated learning.
Likewise, a fail-fast component is designed to report at the first point of failure, rather than generating reports when downstream components fail. This allows easier diagnosis of the underlying problem, and may prevent improper operation in a broken state.