Russell Napier identified unused property in Edinburgh and established the Library of Mistakes in 2013. The library was fitted out and stocked with hundreds of donated and ordered books covering topics related to mistakes in business, economics, and decision-making. Collections focus on accounting, corporate history, financial markets, and case studies of historical financial collapses. The library operates as a free membership library open to all, and aims to serve as a resource on the topics of risk, uncertainty, and failure in important decisions.