Austin McConnell tells you very quickly what you should do if your parachute fails, apparently because you Googled this video when it happened. Yeah, it would have been better if you paid attention before you jumped out of the plane, but whatever.
Your chances of survival are slim, but not zero, so you may as well do what you can to raise those odds on your way down. If you survive the impact, there's plenty more to do to keep from dying. Good luck. -via Rusty Blazenhoff