John Battelle has an excellent post up on the Failure to Fail .  I won’t repeat it here – he states the point really well – and is a must read for any entrepreneur.  John speculates that instead of a “bubble”, we might have a “company destruction crisis.”  If you read Crichton’s Fear, Complexity, & Environmental Management in the 21st Century (that I referred to in my Lack of Critical Thinking post), you’ll recognize this theme as analogous to the dynamic of “the preservation of Yellowstone.”  Failure is a crucial part of the entrepreneurial ecosystem and new and exciting bad things happen when there’s not the right balance of it.