If the cost of failure is low, and outcomes…

If the cost of failure is low, and outcomes are less conse-quential, you can often reduce or skip the margin of safety.

— from The Flight Plan (Purpose/Wisdom/Risk) · Clear Thinking: The Art and Science of Making Better Decisions by Shane Parrish

In the book

So you calculate — you honestly weigh the probability and the size of what you could lose — and you keep a margin of safety wide enough to absorb roughly twice your worst case. Where the cost of failing is low and recoverable, take the leap freely. And remember that, as Harry Potter's headmaster told him, it is our choices, far more than our abilities, that show what we truly are. […] Accept the fare, and bound it. Take the risks your destination genuinely requires, asking of each whether it will give you skills and experience you'll keep, or open you to people and relationships worth having. Then protect the downside, refuse the few risks never worth taking, and leap where the fall is survivable. Fly on faith through the foggy stretches. There will be patches where you lose all sight of the destination; faith is simply continuing to believe in it through those spells of temporary amnesia. — The Flight Plan (Purpose/Wisdom/Risk)

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