This document summarizes Fred Moyer's presentation on practical service level objectives with error budgeting. It discusses how to calculate error budgets based on service level indicators, objectives, and agreements. It presents methods to calculate error budgets using log files by counting errors and slow requests, and using metrics like counters and histograms to track errors and response time distributions over time. Maintaining an error budget allows managing risk while releasing new code by setting a target for acceptable errors or slow requests.