CEO of Alphabet’s X, Astro Teller, on what makes a moonshot
Teller states that X has a 2% success rate, indicating most attempts fail, but this is acceptable.
MAIN POINTS
- Teller reveals X's success rate is only 2%.
- The majority of X's initiatives do not succeed.
- Acknowledging failure is part of X's process.
- X's low hit rate is considered acceptable.
TAKEAWAYS
- Embracing failure is integral to X's strategy.
- A 2% success rate is not seen as a negative.
- X values learning from unsuccessful attempts.
- The company accepts a high failure rate as normal.