Black Swan Theory (Nassim Nicholas Taleb)

The Black Swan Theory, developed by Nassim Nicholas Taleb, refers to rare, unpredictable events that have a significant impact on the world. These events are often rationalized in hindsight, making them seem less random. Examples include the 9/11 attacks or the 2008 financial crisis. Taleb emphasizes that our inability to predict these occurrences means we should be cautious about relying solely on historical data to forecast the future. The theory highlights the importance of preparing for the unexpected rather than assuming that the future will unfold as it has in the past.