City fell apart after dominating Leicester early in their Premier League meeting, and taking the lad through a stunning Riyad Mahrez strike.
A disorganised defensive display, and the concession of three penalties handed Jamie Vardy a hat-trick in a 5-2 win.
But Guardiola decided not to expose his players to the kind of rage to which some City managers of the past might have reacted.
Instead - if you believe what he said in the post-match press conference - he chose to be positive and accept the blame himself.
When asked what he told his players, he replied: "How good they are, how good a team they are, how good players they are. They know exactly the defeat is painful but we have to start again."
Attempting to give his reasons for the defeat, Guardiola said: "We played so, so deep and after we scored a goal in the second minute and we didn't concede anything (at first).
"We struggled because it is normal, it is so difficult with Vardy standing 10-15 yards away from the 18-yard box, the spaces are so difficult to find.
"We didn't create much, we had a clear chance but we didn't create much and we started to think we are not playing good and it was the opposite.
"They wanted to run with Barnes and Praet and Vardy but they didn't run - but we conceded three penalties and it is more difficult.
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"After 1-0 and 2-1 we were not strong enough to be patient and settled. It is so difficult to create chances, it is so difficult.
"Today the consequence was more the fact we gave them three penalties but when we started to think we are playing badly.
"We spoke at half time that we are playing good, try to avoid mistakes there but we are playing good, and the rest will be in our hands. But unfortunately we conceded the second, the third and after it was more difficult."
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