Acharya Prashant explains that failure is merely an event that has occurred and concluded. He emphasizes that the label "failure" is a human construct and that there is no use dwelling on past events. He points out that numerous factors contribute to any outcome, many of which are beyond an individual's control. The real issue arises when one clings to the memory of the event, keeping it alive long after it has passed. He observes that people often derive a sense of identity or even a strange pleasure from their past sufferings and failures, using them to justify their current state. Acharya Prashant advises that one should let go of both past failures and past successes to live a fresh and vibrant life. He uses the example of a cricketer who plays as if he is at zero even after scoring hundreds, suggesting that every moment and every day should be treated as entirely new. By forgetting the past, one can respond to the present with total freshness and clarity.