Under 30 EMEA: After Blowing Through $700 Million, Failed Better Place CEO Shai Agassi says that “If Not Willing To Fail, You Wont Succeed”
Tel Aviv, Israel--April 4, 2016– At the Forbes Under 30 Summit EMEA today, Israeli serial entrepreneur Shai Agassi, who raised (and subsequently lost) $700 million to accelerate the switchover to electric cars, outlined what he thinks will be the biggest disruption of the 21st century.
“At the end of the day the startups who are most successful are the ones who identify the waves way ahead of time….those who peddle after the wave has come don’t reach shore,” he said.
Led my moderator Maneet Ahuja, CNBC Hedge Fund Specialist & Producer on “Squawk Box,” panelists included some of the world’s top disruptors including Nikita Fahrenholz, Co-Founder & CEO ofBook A Tiger and Co-Founder ofDelivery Hero, in addition to Lisa Falzone, Co-Founder & CEO,Revel Systems. Panelists came together to discuss their secrets to success, how to deal with failure, as well as whether we are facing a new tech bubble.
“Be willing to fail,” explained Agassi. “If you are not willing to fail you will not succeed. Sometimes, the difference between failure and success is so minuscule you won’t even notice it.”
“You know you will make mistakes, stated Falzone, “but it’s about how fast you can recover from those mistakes. Speed is very important.”
When asked about the fear of failure, Fahrenholz stated, “You have to get comfortable with it. I’ve failed and failed- its part of what makes you human. I never thought about the negative consequences of an experiment as much as the possible outcome.”
Falzone noted, “Failure is one of those concepts you have to overcome when you start your company. I had to study it and overcome it to get the courage to start my company. I realized, I would rather be in the arena and fail then to be one of those cold timid souls and never be in the arena at all.”
At the conclusion of the panel, Ahuja asked serial entrepreneur Agassi as to whether another tech bubble was imminent. “This isn’t a bubble,” he explained, “its a tectonic plate shift and those who stay put will basically disappear.”
The Forbes Under 30 Summit EMEA brings together 600 greatest young entrepreneurs and game-changers from across the world, including 200 from the U.S., 200 from Europe and 200 from the Middle East and Africa, selected from the various Forbes 30 Under 30 lists.
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About the Forbes Under 30 Summit
The Forbes Under 30 Summit franchise, one of the company’s most popular franchises, is an extension of Forbes magazine’s annual 30 Under 30 list. Attendees of the summit are culled from Forbes’ 30 Under 30 lists in the U.S., Europe and Israel. The Forbes Under 30 Summit EMEA will bring together 600 of the greatest young entrepreneurs and game-changers from America, Europe, the Middle East and Africa, for five days and nights of fostering world-changing ideas and collaborations. Under the theme “Co-Investment, Co-Creation and Co-Existence,” innovators, inventors, mentors and investors will focus on entrepreneurship and long-term, market-driven solutions to global problems, proving that growth is possible even in challenging times.
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