Flavio Briatore and Marco Mazzoli discuss entrepreneurial failures and successes in exclusive podcast

The two successful entrepreneurs also called for higher wages and lower taxes.

On a futuristic set, namely a spaceship, Fabio Rovazzi and Marco Mazzoli, hosts of the ‘2046’ podcast, welcomed two iconic figures from the Italian business world : Flavio Briatore and Renzo Rosso.

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In the “Business Icons” episode of the 2046 podcast, which went out last Tuesday, the two hosts chatted for almost an hour with both entrepreneurs about their careers, their thoughts on success and entrepreneurship, as well as politics, the future of Italy, young people today and current affairs.

Success, sacrifice and the future of entrepreneurship

Over the course of the episode, Briatore and Rosso discuss a variety of subjects related to their success. They talk about the sacrifices they made, the obstacles they overcame, and the lessons they learned along the way. They also stress the importance of perseverance and passion if you want to achieve your goals.

“I think that with the world of social media, a fast-paced world, young people want to achieve their goals too quickly without making any sacrifices. But to succeed, you have to suffer, make mistakes and fight. My advice has always been (…) that you have to learn, make mistakes, suffer… I still cry and suffer now,” Renzo Rosso, founder of the clothing brand Diesel, tells the listeners.

Learning from failure

Rosso encourages young entrepreneurs to take their time and not to be afraid of failure. However, the two entrepreneurs mention a major difference between Italy and the United States on this point, and deplore the stigma attached to failure in Italy, whereas it is seen as an empowering experience in the United States.

“If you go bankrupt in Italy, you’re ruined. (…) Failure in America is seen as a strength, it gives us a new vision to start again.” says Briatore. The Monegasque resident adds that at the slightest failure in Italy “you’re dead, the banks won’t touch you.”

Lower taxes and higher wages

The two entrepreneurs also discussed the cost of living in Italy and the difficulties faced by Italians. Flavio Briatore believes that wages should be increased. He says: “Take a family of four where the husband earns €2,000 per month and the wife earns €1,500 per month. How do they get by on €3,500? It’s miraculous. I have a lot of respect. You also have to look after two children, the family… On top of that you can’t pay the taxes that are weighing you down.” He advocates lower taxes and higher wages, if only to pay the rent.

In response, Renzo Rosso says that “to reduce taxes, we would have to cut back on the wastefulness of politics.” Flavio Briatore shares that analysis: “They’re the real tax evaders, they just throw money around any old where.”