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Maximin. Minimize the impact of your losses. This is the way a power plant works. It’s nice if your average productivity goes up a bit, but it’s absolutely terrible if something goes wrong and the place melts down.
Seth Godin • This Is Strategy: Make Better Plans (Create a Strategy to Elevate Your Career, Community & Life)
When lots of these conditions are in place (greater than 80 percent) there is around a 1-in-3 chance of a civil war or revolution—so not very probable but still too probable for comfort. The US is in the 60–80 percent bucket today.
Ray Dalio • Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail
The Life and Death of a Block Destroyed By the L.A. Fires
nytimes.comThreats such as meteorites and space debris are rarely included in risk assessments because of the minute chance of occurrence.
Peter H. Gregory • CISM Certified Information Security Manager Bundle
But there are only ten specialized burn beds in the entire Washington metropolitan area, at the MedStar Washington Hospital’s Burn Center in central D.C.
Annie Jacobsen • Nuclear War: A Scenario
Avoiding these kinds of unknown risks is, almost by definition, impossible. You can’t prepare for what you can’t envision. If there’s one way to guard against their damage, it’s avoiding single points of failure.
Morgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness
put chains and a padlock around the quick-release handles to the back fire door exit. Hoke got the keys from the office, unlocked the chains, and put them into the storage room behind the unused kitchen. Later, when he made out his report and put it on Mr. Bennett’s desk, he reminded the manager that the fire marshal could close the hotel down for
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