The peaks in this graph represent successes, and the dips represent failures. You’ll notice that the red curve (a high-velocity team) has four times as many peaks as the blue curve (a low-velocity team).
The red team also has four times as many failures—but that’s a good thing because that’s four times as many learning opportunities. In other words: the red team has more opportunities to validate their assumptions within the same time frame, which gives them a huge competitive edge over the slow, laborious blue team.
Note: of course, we have to be careful not to confuse high-velocity decision making with compromising quality for speed. There’s a difference between discovery work and delivery work, and it’s important to know when to optimize for quality and when to optimize for speed.