We have been spending a lot of thinking time lately with Nassim Nicolas Taleb, the author of The Black Swan
. Black swans are his metaphor for events that are a) unpredictable; b) massive in their consequences for the people concerned; and c) obvious in hindsight.
Below are the three of his most significant points. We call them “risks hiding in plain sight.”
❶ The world would have us treat our businesses like a game. Founding and operating a...