The Lean Startup founder Eric Ries talks recalls his first crash-course in entrepreneurship, what went wrong with his very first tech venture, and why having failed startup under your belt is something of a right of passage in Silicon Valley. He discusses the strikingly similar issues faced by both large corporations and new ventures, and why the biggest problem with many startups is that they simply never plan for success. He discusses how he helped form the innovative Fastworks Program at the granddaddy of legacy companies General Electric, and how a more entrepreneurial system can improve the bottom line for everything from large multinational corporations to government bureaucracies. Order his newest book The Startup Way: How Modern Companies Use Entrepreneurial Management to Transform Culture and Drive Long-Term Growth on Amazon or download the audiobook on Audible. Follow Eric on twitter at @ericries or at www.theleanstartup.com. Today’s episode is sponsored by Grasshopper.