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What does that mean?

This statement is also listed in several places as “Experience is simply the name we give our mistakes. “So, what do you call your mistakes? “My Ex” might work for some of them, but what about the rest?

Does the word ‘experience’ fit fairly well for you? Experience, learning, tiny bits of wisdom, lessons from the school of hard knocks, or any other similar word(s) would work, right?

I would agree, but with one caveat. If you have learned nothing from having gone through the process, is it really experience?
To me, experience only comes when you learn something from your mistake. If you learn nothing, you will likely repeat the same mistake, for the same reasons, again and again and again.

Only when you learn from the mistake does it become experience.
Does that make sense?
Why is experience important? 

With the caveat I used in the prior section, experience is how we learn. We try something, note how it turned out, and use the experience to better judge how to move forward in the future.
Experience, when we learn from what happened (I would say both from the good and the ill), is our feedback, our method of getting closer and closer to our desired goals.

Without experience, we are just mindless creatures, doing the same things over and over and wondering why we seem to get the same result each time. Without experience, we would never have learned to make fire, find the benefits of the six simple machines, or any of the technology of early agriculture and animal husbandry. One of the greatest gifts humanity has left itself is the accumulated experience of thousands of years of attempts.

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