Failing fast also reduces cost. It cuts down on the time wasted on things that aren't going to work. With traditional design it can take years to find out if so

Failing fast also reduces cost. It cuts down on the time wasted on things that aren't going to work. With traditional design it can take years to find out if something will work or not. And when they don't, it leads to lengthy and expensive redesigns. You avoid all of that by iterating rapidly and building on and perfecting what works and scrapping/replacing what doesn't work before you sink a lot of time and resources in these things