There was an interesting quote/anecdote, Joe Armstrong likes to tell, it is about people who claim they've built a reliable or fault tolerant service. They would say "This is fault tolerant, they are multiple hard drives in there, I have done formal verification of my code and so on..." and then someone else trips over the power cord and that's the end of the fault tolerance. It is just a silly example, of course they'd properly provide power to an important rack of hardware, but the point is, in the simplest case the system is only as fault tolerant as its weakest components. It is that one bad capacitor from Taiwan that might the whole thing down, or just a silly cosmic ray.

One needs redundant hardware to provide certain guarantees about the service being up. This means load balancers, multiple CPUs running the same code in parallel and comparing results, running on separate power buses, different data centers, different parts of the world.