The Black Swan

"The Black Swan" refers to an unpredictable event that has a significant impact and is often rationalized in hindsight. Coined by Nassim Nicholas Taleb, the term illustrates how rare occurrences—like financial crises or major technological shifts—can shape history despite being ignored or deemed impossible beforehand. The key points are that these events are shocking, they carry a massive effect, and people tend to try to explain them after they happen, even though they were unforeseen. Understanding Black Swans encourages awareness of uncertainty in life and decision-making, promoting a more adaptable mindset.