Black Swan

A Black Swan event refers to an unpredictable, rare occurrence that has significant consequences. The term, popularized by Nassim Nicholas Taleb, highlights how these events are often rationalized in hindsight, as if they could have been expected. Examples include financial crises, natural disasters, or sudden technological breakthroughs. Black Swan events challenge our understanding and forecasting abilities since they lie beyond the realm of normal expectations. They emphasize the limits of knowledge and the importance of resilience and adaptability in the face of uncertainty.