Taleb's work on risk

Nassim Nicholas Taleb's work on risk emphasizes the importance of understanding unpredictable, rare events—called "Black Swans"—that can have profound impacts. He argues that traditional risk models often underestimate these events, which are difficult to predict but can cause massive disruptions. Taleb advocates for building systems that are robust to surprises, emphasizing flexibility, decentralization, and skepticism of overly confident forecasts. His approach encourages preparing for unlikely but impactful events, recognizing our limitations in precise prediction, and embracing uncertainty as an inherent aspect of complex systems like finance, technology, and society.