I wouldn't say the father failed at all. Nothing lasts forever and companies are no exception. Growing and leading a company for 20 years is a huge accomplishment, no matter what happens after that. Companies are not meant to last forever. We've had companies since the middle ages, and none of them exist now. Surely they're not all failed companies whose leaders all failed them?

Besides, there's no way bankruptcy wipes away all the value that has been created. If a company can support three dozen families over 20 years (figures from the story) that's a tremendous amount of value. The few million dollar the company was worth before it went bankrupt pales in comparison.

I understand why the father in the story would blame himself, it's only natural. It's a very human thing to second guess and blame yourself. My point is that people always find a way to blame themselves so I don't think somebody who successfully leads a business for 19 years is any more of a failed entrepreneur than a writer who writes bestsellers for 19 years or professor who does research and manages his group for 19 years or an actor who has 19 years worth of television and movies to his name.

Failed? Pheh.

> We've had companies since the middle ages, and none of them exist now.

I totally agree, but it's not strictly true that none of them exist anymore: http://en.wikipedia.org/wiki/Hoshi_Ryokan

Seems like he was quite a champ. Far more precious if you can teach your kids to think for themselves and use their wings, than leave them a multi-million dollar company, me thinks.

It's a very moving story. It's well worth the read.

Very well written, a thank you to the author (and his father!)

Well that's going on my wall.

for every success in life there are always a long list of glorious failures that precede it.