'This record was originally not intended to be made public.'
A hyper-realistic business notebook written over 10 years by the founder of Publi.

《Going Through Failure》 is a business notebook written without reservation by founder Park So-ryeong, who founded and led the content startup 'Publy' for 10 years.
This book is neither a success story of a unicorn company nor a dramatic exit story.
Instead, I honestly recorded the wrong choices, the consequences of those choices, and the crucial scenes where I had to endure in the midst of it all.


The book consists of ten crucial scenes from the ten-year journey.
Each scene vividly depicts the clash between reason and emotion, anxiety and certainty, ideals and reality.
Instead of flashy packaging, misjudgments, regrets, and the weight of responsibility are revealed on every page.
At the same time, it also contains solid insights that can only be gained by those who have faced the entire process head-on.


This book shows readers weary of the glamorous success story what drives them to keep moving forward despite failure and setbacks.
This book, which prioritizes process over results and truth over packaging, will offer honest courage and comfort to all who are wavering on their path.

Anyone who takes one step at a time toward a goal they have set for themselves will experience joy and sorrow every day.
Some days I feel full and happy even without eating, and other days I feel like crying or venting my anger alone in a place where no one is around.
Just as the mountain is high, the valley is deep, so too is the joy and frustration.
The time spent going through one's own success or failure is precious and lonely.
So, I hope this book can be a little bit of support to everyone who is quietly going through their own journey, whether it is success or failure.
So that you can go further and longer to where you want to go.

---From the "Prologue"

In the summer of 2017, when I was going through my first layoff, the psychologist I met diagnosed that I was having a hard time because I was so integrated with the company.
Because we are integrated, the company's success and failure are directly linked to my own joys and sorrows.
When good things happened at the company, I felt like I was flying through the clouds, and when bad things happened, I felt like a defeated soldier on the battlefield.
Anyway, the company and I were one, and there was no objection to that.
I thought it was the founder's destiny.
---From "When the Entrepreneur Quits"

Working in the content market was the perfect fit for me, allowing me to immerse myself in something I deeply love while also being able to help others.
It was only after I decided to 'start a business' as a way to work in that market that I was finally convinced.
---From "When an Entrepreneur Starts"

I think that starting a business and investing share similar characteristics in that you have to decide on the conditions for the end before you start, and you have to constantly consider whether to continue or stop after you start.
That you shouldn't be influenced by external circumstances when making decisions.
That your own subjective judgment always comes first.
---From "Fundraising"

I think the question, "Is co-founding necessary?" is similar to the question, "Is marriage necessary?"
If you don't think marriage is necessary, then no matter what people around you say, just don't get married.
On the other hand, if you get caught up in the atmosphere around you and impulsively jump in thinking, "Should I do this too?", you may end up regretting it.
It's the same when you immediately jump to the conclusion of marriage just because you have someone you love.
Because love and marriage are different.
---From "Co-founding"

Entrepreneurs are human too.
As humans, we sometimes face times when our eyes become blind.
Of course, it would be best if you didn't go blind, but what if it's difficult to completely prevent blindness?
I realized, at great cost, that you have to be prepared to get out quickly.
---From "The Problem of Resource Allocation"

Jeff Bezos said that before making a decision, you should first consider whether the decision is reversible or not.
Most decisions are reversible, so if the outcome isn't what you want, you can quickly reverse the decision.
However, decisions regarding shareholders (who to invite as shareholders and what percentage of shares they will have) are difficult to reverse and can be very costly to reverse.
I didn't realize then that a single decision made by a shareholder could have a significant impact on future important decisions for the company.
---From "The Essence of Shareholder Relationships"

One day in February, while I was running, this thought suddenly occurred to me.
'Whatever I do now will have very little impact on whether the company sells well or not.
If the sale goes through, it will be thanks to decisions made over the past decade.
Even if the sale doesn't happen, it's because of the decisions we've made over the past 10 years.
The past ten years cannot be undone, and the final decision on the sale will be made through countless decisions, big and small, that have piled up like layers of sediment.
Well then, let's trust the decisions I've made over the past 10 years.
Just believe.'
---From "Journey to the End Part 1"

Sometimes I think of myself as a pilot flying a plane caught in turbulence.
No matter how severe the turbulence was, I held on tight to the control stick and determined to reach my destination.
Rather than the vague belief that 'I can get there,' the firm determination that 'I will definitely get there' was the fuel that allowed me to grit my teeth and persevere.
I don't think I'll ever forget the feeling of relief I felt the day I finally landed on the ground.
---From "Journey to the End Part 2"

If I had to condense the message of this book into one word, I would say it is 'a ten-year journey of realizing who I am.'
Every decision from the beginning to the end of a business is linked to 'Who am I?'
I've learned that only by knowing who I am can I make decisions that minimize regret.

---From the "Epilogue"