The only group that benefits from fail fast are VCs
Doesn't the entrepreneur also benefit if it keeps him from pursuing a business that will never work? Otherwise they may become a victim of the Sunk Cost Fallacy -- after investing so much time and money into their business, they don't want to give up.
The key, of course, is knowing if you really have a failing strategy, or if you just having devoted enough time/money into making it a success. And the VC can look at it more dispassionately than the inventor.
Doesn't the entrepreneur also benefit if it keeps him from pursuing a business that will never work? Otherwise they may become a victim of the Sunk Cost Fallacy -- after investing so much time and money into their business, they don't want to give up.
The key, of course, is knowing if you really have a failing strategy, or if you just having devoted enough time/money into making it a success. And the VC can look at it more dispassionately than the inventor.