The concept of black swans is at the core of Nassim Nicholas Taleb's book "The Black Swan". Black swans are rare, unpredictable events that have a major impact. They are the outliers that can change the course of history, and they are impossible to predict. Taleb uses the metaphor of a black swan to illustrate how our world is full of surprises that we do not expect.

Taleb argues that black swans are not just random events that happen out of the blue. They are the result of complex systems that are highly sensitive to initial conditions. These systems can be found in nature, in human societies, and in financial markets. They are characterized by non-linear relationships, feedback loops, and tipping points.

Taleb provides numerous examples of black swans throughout history. The discovery of America by Columbus, the rise of the Internet, and the terrorist attacks of September 11, 2001, are all examples of black swans. These events were impossible to predict, and their impact was far-reaching.

Taleb also discusses the human tendency to underestimate the impact and probability of black swans. We tend to rely too much on past experiences and assume that the future will be similar. We also tend to create narratives and find patterns, even where there are none. This can lead us to ignore the possibility of black swans and their potential impact.

In conclusion, black swans are rare, unpredictable events that have a major impact. They are the outliers that can change the course of history, and they are impossible to predict. The concept of black swans is at the core of Taleb's book, and he uses numerous examples to illustrate their potential impact. It is important to recognize the existence of black swans and be prepared for their potential impact.