Kevin: Suw and I watched President Barack Obama's address to students in the United States, and one of the applause lines for Suw was when he said: "you can’t let your failures define you – you have to let them teach you. You have to let them show you what to do differently next time". Fred Wilson of Union Square Ventures talks about he has learned this lesson in his own life. He talks about the hard lessons he learned in the dot.com crash. Often when we succeed, we don't take away lessons that help us repeat that success, but if we fail and learn, we can make sure that even if we fail again, it won't be for the same reasons.