The disproportionate role of high-profile, hard-to-predict, and rare events that are beyond the realm of normal expectations in history, science, finance, and technology.The theory was developed by Nassim Nicholas Taleb, starting in 2001, to explain: The term is based on an ancient saying that presumed black swans did not exist, until they were discovered in Australia in 1697, and it then became reinterpreted to mean an unforeseen and consequential event. The black swan theory or theory of black swan events is a metaphor that describes an event that comes as a surprise, has a major effect, and is often inappropriately rationalized after the fact with the benefit of hindsight. A black swan ( Cygnus atratus) in Australia
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