There’s been a lot written on admitting failure.

You’re seen as trustworthy, since responsibility and transparency are key everywhere.

The obvious gains are:

• makes you less of a liar and bragger
• doesn’t embarrass other people with hidden failure
• makes your claims at what you succeed more believable

Not hiding stuff is great too, because “one lie leads to many lies”, and since you fucked up in the first place, and in a bad enough way that you don’t want others to know, you probably are not the best person to cover up the consequences alone.

Covering up your own bullshit will take an order of magnitude more work than what could/should have been done in the first place.

So admitting failure is also a great boost in focus and opportunities to learn. If you let it be.