We’ve all heard the sports bromide play to win. So it’s quite interesting that scientists say that managers, coaches and players are too cautious for their own good. It seems that their focus on the worst-case scenario prevents them from following the optimum strategy - fear of failure trumps cold logic.

Contrast that with Silicon Valley - the characteristic that is hardest to duplicate is it’s acceptance of failure. A stint at a failed company is a black mark in most places. In Silicon Valley, it’s a degree from the school of hard knocks.