What is the difference between “fallimento” and “fallito” in Italian?

Italian draws a sharp line English blurs. Un fallimento is a failure that happens — a project, a business, a flop. Un fallito is a person branded as a loser. The whole point of this clip lives in that gap: you can rack up fallimenti without being un fallito. As the speaker puts it, his failures were business che non sono andati bene — ventures that didn’t work — never a verdict on him as a man.

Both come from the verb fallire (to fail, also “to go bankrupt”): il fallimento is the noun for the event or the bankruptcy, fallito is its past participle pressed into service as an insult-noun, “a failed one.” The clip frames it with a Churchill line rendered in Italian — il successo non è definitivo, il fallimento non è fatale (success is not final, failure is not fatal). Knowing which word to pick is the difference between “I had a setback” and “I’m a write-off.”