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I understood that learning from another person's mistake and learning from our own mistake comes with different kind of feelings, I know of a person that I told of a mistake I made some time ago for him to learn from that but he boldly told me that he would want to learn from his own mistake and that made my advice irrelevant to him though I felt bad but I told myself that it is at his own detriment. Let's say the truth, it is more reasonable to learn from another person's mistake than your own mistake because it will save you alot of stress, but most people don't listen until they learn the hard way.
Of course, learning from other people's mistakes is the better option because you can see what went wrong and try to avoid the same thing. But i don't really understand why that person still wanted to make his own mistakes after you gave him advice. He knows there is a risk of losing money or something else, but still wants to try it by himself. I think its always better to avoid the hard way when you can learn from someone else's experience...