Today’s invention is a hot air balloon which can convert to a parachute if damaged in flight.
The balloon is made of several horizontal layers zipped together.
If damage occurs, the layers below the tear can be unzipped by pulling on one of a number of wires from the gondola (assuming that the tear hasn’t happened too high in the envelope).
This allows the remaining part of the balloon to stay inflated, albeit with increasingly cool air, and act as a parachute.
It also opens a small aperture at the apex to provide more stable descent.