Black Swan Event. Seemingly ordinary events that end up having significant implications due to unexpected outcomes.
07 Sep 2023, 14:02
Black Swan Event
Seemingly ordinary events that end up having significant implications due to unexpected outcomes.
The idea of Black Swan events traces back to the rarity of a black swan. The concept of this event consequently follows real-life incidents that appear to happen randomly and have an expected course, only to turn out to be completely different and eventually culminate into noteworthy events of shocking implications.
There have been multiple contextualizations of Black Swan events since ancient times. One of the most popular is that of the statistician Nassim Nicholas Taleb, who developed a theory from it called the Black Swan theory. This theory attempts to explain the improbability of an event with unforeseen implications but logical explanations.
Some examples of a Black Swan event are the COVID-19 outbreak, the Global Financial Crisis of 2008, and the FTX bankruptcy.