Nah, this is specific for silicon valley companies where only the result counts and not the costs. Because the idea is that all the losses from the fast burnrate will be recovered in the far future due to potentially enormous growth. A lot of it purely relies on empty promises.
You see, if your do the slow and cost efficient way investors can get a way better realistic idea about potential future growth. But if you move as fast as possible investors will might think the sky is the limit and pour way more money into it.
So the entire fail fast concept has nothing to do with good engineering, it's all about trying to keep investors in the dark, and make big promises to raise huge chunks of money.