The black swan theory: What it is, and how to use it Black sw | Wakingup1984
The black swan theory: What it is, and how to use it
Black swan events are highly improbable, difficult to predict incidents that end up having drastic consequences
The man who coined the black swan theory, Nassim Nicholas Taleb, said there were three key ingredients that contributed to such an event: it is so rare that no one could have even anticipated it, its effects are catastrophic, and it is regarded as predictable in hindsight. [ ]
The author argued that the best way to mitigate a black swan event is not to try and predict it, but rather to build resilient systems that can reduce their likelihood even further.
