On this episode, Eric and Greg discuss the topic of failure and its relationship to success. Eric believes that the word "failure" is overused in business and that it's important to distinguish between small setbacks and catastrophic failures. He emphasizes the importance of reflection, iteration, and a scientific approach to business. They also mention famous individuals who have experienced "failures" before achieving success, such as Michael Jordan, Walt Disney, Steven Spielberg, John Grisham, Albert Einstein, Henry Ford, Oprah Winfrey, Jerry Seinfeld, Dyson Vacuum's inventor James Dyson. Eric and Greg encourage listeners not to view rejection or setbacks as failures but rather as learning experiences on the path to success. Eric shares his own experience with feeling like a failure at times but advises against making long-term decisions based on short-term thinking.