Failure tolerance

How much failure is expected and accepted at each distance.

The part

What it is

A far-horizon portfolio where most bets succeed is not a portfolio of options; it is a portfolio of safe work labelled as exploration.

Stating the expected failure rate in advance is what makes it possible to fail without it being treated as a fault.

The smallest level

The attributes it carries

Each attribute is one of the framework’s shared types. What a date is, and how it is written, is defined once for the whole model — the note here says what it means in this particular place.

Expected failure rate
What proportion is expected not to work.
Percentage shared type
What counts as a good failure
The learning that makes an unsuccessful bet worthwhile.
Text shared type