Can we cheat Inertia and gravity?

Question

If you are in an elevator and its pully system fails and it is falling five floors. Will you reduce or escape injuries if you are able to jump at the last second before it hits the floor?

Answer 1

You will just slow yourself down a tiny bit, which might help a little. Personally, I think it would help more if you used the small amount of time you have to assume a good crash position.

Answer 2

reduce them, yes. Negate them completely, no. That was on Mythbusters. lol.