Chapter Four: The Perfect Storm
âItâs this familiarity that makes complex failures so pernicious. In familiar situations you feel more in control than you actually areâsay, driving home (familiar) despite consuming alcohol at a partyâmaking it easy to be lulled into a false sense of confidence.
Related Quotes
As pernicious as basic failures can be, complex failures, described in chapter 4, are the real monsters that loom large in our work, lives, organizations, and societies. Complex failures have not one but multiple causes and often include a pinch of bad luck, too. These unfortunate breakdowns will always be with us due to the inherent uncertainty and interdependence we face in our day-to-day lives. This is why catching small problems before they spiral out of control to cause a more substantial complex failure becomes a crucial capability in the modern world.
Embracing the Possibility of Failure to Reduce the Occurrence of Failure
My decades-long fascination with error, harm, and failure has left me humble about the complexity of these topics. The mix of factorsâtechnology, psychology, management, systemsâmeans none of us can master every aspect of the relevant knowledge to feel âweâve got this.â But a few simple practices have emerged from my work that can help prevent complex failures. With these, we all have the power to make that kind of differenceâin our own lives and in the organizations we care about.
Part Two: Practicing The Science of Failing Well
Chapter Five: We Have Met the Enemy
âToday, Dalio credits this failure as a major cause of his subsequent extraordinary success, including his firmâs becoming the largest and most profitable hedge fund in history: âIn retrospect, that failure was one of the best things that ever happened to me. It gave me the humility I needed to balance my aggressiveness and shift [my] mindset from thinking, âIâm right,â to asking myself, âHow do I know Iâm right?ââ
How do I know I am right?
Itâs a powerful question. Failing well, perhaps even living well, requires us to become vigorously humble and curiousâa state that does not come naturally to adults.
Chapter Eight: Thriving as a Fallible Human being
âFor me, losing a tennis match isnât failure. Itâs research.âBillie Jean King
Chapter 14: Restoring Balance
âI reminded myself: If adding another element to the experience means youâre going to do everything a little less well, walk it back. Do less, and do it well.