the Black Swan concept

A Black Swan is an unpredictable event that has a massive impact and is often only understood in hindsight. These events are rare, surprising, and can drastically change markets, societies, or industries. Examples include major financial crashes or unforeseen technological breakthroughs. Because they are so unexpected, they challenge our ability to forecast and prepare, emphasizing the limits of traditional risk assessment. Recognizing the possibility of Black Swan events encourages us to build resilience and remain adaptable to unforeseen, impactful changes.