The ship's hull plates buckled, and six of its 16 watertight compartments were ripped open to the cold waters of the North Atlantic Ocean.
Four days later, on the night of April 14, the Titanic hit an iceberg 375 miles from the coast of Newfoundland. None the less, she continued onward stopping in France and Ireland to pick up passengers. And as you know, the Titanic never did reach New York. Ironically, many viewed this as an instance of dark foreshadowing and bad luck. Her huge waves knocked the SS New York off her dock and caused the ship to float within 4 feet of the Titanic. The Titanic set sail from Southampton, England on Apbound for New York and immediately hit issues. But back then, the Titanic’s size created some problems. The ship was large for 1912, but would be dwarfed by ships today. The addition made the Titanic heavier than the Olympic, giving her the title of largest ship.
Even third-class passengers, many immigrating to America, were given superior service to compared to other ships.Īt the last minute, the owners added a steel windscreen to protect the first class passengers from the elements. First-class accommodations included a swimming pool, library and impressive cabins. Lastly, the Titanic was also fitted with an anchor weighing over 15 tons, the largest ever built at the time.Īnd boy was it luxurious – at least for its many wealthy passengers. If the buck stops with you, be prepared to handle it.The hull was then scuttled to England where the remaining accessories, luxury accommodations and the latest radiotelegraph technology were added to the ship. On a boat the backstop is swimming ability, in the markets it’s cash, in life it’s philosophy. Assume you need more and you’re still not guaranteed. Most disaster meant many things went wrong, and removing one domino stops the entire line. The military expression that two is one and one is none is true for all branches of life. To paraphrase Howard Marks, it’s unlikely that a 6' person will drown in a 5' river. Here are 3 ideas to reverse this problem. Rather than observe the rain, let’s help build the ark. It’s what happens when we put too much emphasis on bulkheads and pay too little heed to backstops. Moral hazard is when we assume outcomes we insured for and forget the rest. Howard Marks wrote that “the risk-is-gone myth is one of the most dangerous sources of risk.”
Then things turned dreadful as not-enough-lifeboats left not-full-of-people. We know that there was something worse than a collision at the juncture, an iceberg scraping across. Since no one could imagine anything worse than a collision at the juncture of two compartments, she was labeled “unsinkable.” But this wasn’t the only thing that went wrong. The engineers and designers didn’t consider a shear that might occur from a collision. But no matter how they sliced it, she could not float with all of her first five compartments full. She could even float with all of her first four compartments gone. She could float with any three of her first five compartments flooded. The Titanic could float with any two of her 16 watertight compartments flooded. The ship was a marvel because of the number of compartments that could flood without sinking her. Few thought the Titanic would sink, in part, because of the bulkheads.
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