Even the safest options fail

Murphy’s law is a popular adage that states that everything that can go wrong, will go wrong.

It’s important to minimize risk, but even the lowest-risk options are susceptible to failure.

When things go according to plan, celebrate.

When things don’t go according to plan, learn.

Don’t fall into the trap of despair; remember: even the safest options sometimes fail.

Abraham Kim

This is why I like

Nassim Taleb

's idea of not minimizing risk but rather minimizing downside. As in designing for and predicting what is the worse possible effect if the wrong were to happen.

In

The Black Swan

he basically argues that you can never predict when such unpredictable events can happen. It's better to figure out what type of downsides you're vulnerable and prepare for that.

2021-06-06 14:02:05

William Liao

I still need to read The Black Swan! A lot of colleagues have been referencing it, I think it's a sign to move it up on the reading list.

2021-06-14 21:38:53