Pink Slip
Don't quit now if flying is what you really want to do! A pink slip will not keep you from a career in aviation. The only thing that can hurt your future is you. Anyway, by the time you have enough time to be hired by the airlines, it will be so far back in your history it wont matter too much. You will have taken and passed so many check rides that your private wont matter too much. It may come up in an interview or on an application but just be honest. For corporate aviation it will not cause you any problems at all. Everyone has a blemish somewhere in their past, it's just what you do after that matters. Show them you don't give up and that you can overcome.
If you really want to fly, go study hard and work on whatever you were weak on in your ride, go take it again and pass. You are just getting started, have fun but work hard and you can do whatever you want. Companies want to see determination, now is the time to work on that.
Good luck, and don't forget to enjoy the journey. Most pilot's forget to enjoy the journey, they are too preocupied with the destination!