Agreed, and that is exactly what he does: the foundation has an annual Fail Fest to try to learn from its mistakes.<p>The website says: &quot;Some of the projects we fund will fail. We not only accept that, we expect it — because we think an essential role of philanthropy is to make bets on promising solutions that governments and businesses can’t afford to make. As we learn which bets pay off, we have to adjust our strategies and share the results so everyone can benefit.&quot;<p><a href="http:&#x2F;&#x2F;www.gatesfoundation.org&#x2F;Who-We-Are&#x2F;General-Information&#x2F;Letter-from-Bill-and-Melinda-Gates" rel="nofollow">http:&#x2F;&#x2F;www.gatesfoundation.org&#x2F;Who-We-Are&#x2F;General-Informatio...</a>