In business and in life, to learn from your past mistakes is one of the most valuable lessons you will ever have the pleasure to take with you. It allows you to learn right from wrong, good from bad and smart from dumb.
Some of your ideas may have come off as inconvenient, time consuming or down right stupid. Lucky for you is your ability to change direction in life and flip negative experiences in positive altercations.
Before the chairman of LinkedIn, Reid Hoffman, began his hugely successful social network, he first set his focus on a different project, a social dating site known to the world as http://www.socialnet.com. He spent tireless hours to develop the site into a social dating competitor but closed the site for good in January 2000.
Reid took what he knew from the experience and became the executive vice president at PayPal, with help from his close friend Peter Thiel. Reid explains his frustration with the companies business model, new executives and an embarrassing month to include over twelve million dollars spent without a single cent of company revenue.
Reid took with him numerous constructive ideas which would eventually lead help him to create his own top tier company LinkedIn. This month alone, LinkedIn has had over twenty four million unique visitors.
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