Yes, this happens.

Give one example in which you had high hopes for success (artistic, commercial, or otherwise) but had those hopes dashed.

When I was really young, and still a student, I got a contract with an American publisher for a short work of criticism. I’d sent them the manuscript, on the off-chance, and it turns out that they wanted to publish it as it was. I was really proud: I didn’t know anyone my age who had published a book — but, of course, I wasn’t satisfied. The manuscript, in my eyes, wasn’t good enough. I asked the publisher to give me a little time to work on it. They granted me a one-year deadline, on the understanding that I’d send in the revised manuscript after six months. Six months, that’s all you need, they said, six months. Almost five years later, I was still working away on the manuscript, wracked by guilt, and I had to draw the conclusion, eventually, that the project I’d embarked upon was unfinishable. As Blanchot said of Joubert, I preferred failure to “the compromise of success” — or at least, that’s my excuse.

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