"Admitting failure" concept

In this story, "S" is a scientist. The letter can stand for "String theorist" but if in fact, if it were "Skeptic", it wouldn't be too different.

PW: Why are you studying what you are studying?
S: Because I think it is interesting!
PW: No, you are studying it because you do not want to admit failure!
S: No, I really think it is interesting.
PW: No, no, admit failure at once!
S: If I admit failure, can I still continue studying what I am studying?
PW: Yes. But why would you?
S: Because I think it is interesting!

Via Gina.