black swan
/ˌblæk ˈswɒn/
an unpredictable event that is beyond what is normally expected and has potentially severe consequences
black swan in a sentence
“The 2008 financial crisis was described by some as a black swan event.”
Origin of black swan
Metaphor from the presumption that all swans were white until black ones were discovered in Australia
Related Words
emergence
the process where complex patterns arise from simple interactions
feedback loop
a system structure where outputs circle back as inputs
nonlinearity
a relationship where output is not directly proportional to input
antifragility
the property of systems that benefit from shocks and volatility
critical mass
the minimum amount required to start or maintain a venture
tipping point
the point at which a series of small changes becomes significant enough to cause a larger change