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"Mistakes are cheap because there’s no external pressure to perform, so developers can take risks and experiment without fear of repercussions or embarrassment"

What a great way to learn :)

I've been lucky enough to have jobs in the past that allotted a bunch of time for learning, but I know a ton of people who don't have that luxury.

For students, I'm sure hackathons are a great change of pace from what they're doing in class too. Nobody puts a grade on your hackathon project after all :)