If you understood a business perfectly and the future of the business, you would need very little in the way of a margin of safety. So, the more vulnerable the business is, assuming you still want to invest in it, the larger margin of safety you'd need. If you're driving a truck across a bridge that says it holds 10,000 pounds and you've got a 9,800 pound vehicle, if the bridge is 6 inches above the crevice it covers, you may feel okay, but if it's over the Grand Canyon, you may feel you want a little larger margin of safety.
I waited for the train at Coventry; I hung with grooms and porters on the bridge, To watch the three tall spires; and there I shaped The city's ancient legend into this.
Crowds stand around all day long and criticise that bridge, and find fault with it, and tell with unlimited frankness how it ought to have been planned, and how they would have built it had the city granted them the $14,000 it cost. It is really refreshing to hang around these and listen to them. A foreigner would come to the conclusion that all America was composed of inspired professional bridge builders.
I stood in Venice, on the Bridge of Sighs; A palace and a prison on each hand; I saw from out the wave of her structure's rise As from the stroke of the enchanter's wand: A thousand years their cloudy wings expand Around me, and a dying Glory smiles O'er the far times, when many a subject land Look'd to the winged Lion's marble pines, Where Venice sate in state, throned on her hundred isles.
The approach and strategies are very similar in that you gather all the information you can and then keep adding to that base of information as things develop. You do whatever the probabilities indicated based on the knowledge that you have at that time, but you are always willing to modify your behaviour or your approach as you get new information. In bridge, you behave in a way that gets the best from your partner. And in business, you behave in the way that gets the best from your managers and your employees.
Oscar Wilde said the rich and the poor are equal - they can both sleep under the bridge. Right? Do they have a right? You're damn right they have a right!
As long as you still have one bridge left, nothing is lost. But from the moment that you cannot even understand the storytelling or the music of other cultures anymore, then we become strangers to each other and the situation will become very complicated.
No one is more dangerously insane than one who is sane all the time: he is like a steel bridge without flexibility, and the order of his life is rigid and brittle.