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Silicon Valley celebrates its successes, but the failure rate is generally much, much higher. But what makes the Valley different than other entrepreneur-rich areas is how it deals with those failures. Randy Komisar of Kleiner Perkins, in this entrepreneur though leader lecture given at Stanford University, says that only a company that can deal with failure and still make money has any chance of succeeding. The talk’s an old one – from 2004 – but the themes still resonate today.