  We report updated results for the first 7 years of our program to monitor 27
galaxies within 10 Mpc using the Large Binocular Telescope to search for failed
supernovae (SNe) -- core-collapses of massive stars that form black holes
without luminous supernovae. In the new data, we identify no new compelling
candidates and confirm the existing candidate. Given the 6 successful
core-collapse SNe in the sample and one likely failed SN, the implied fraction
of core-collapses that result in failed SNe is $f = 0.14^{+0.33}_{-0.10}$ at
90% confidence. If the current candidate is a failed SN, the fraction of failed
SN naturally explains the missing high-mass red supergiant SN progenitors and
the black hole mass function. If the current candidate is ultimately rejected,
the data implies a 90% confidence upper limit on the failed SN fraction of $f <
0.35$.
