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When Shit Hits the Fan
Black swan events teach us important lessons
This is bad, real bad. Bad for the people dying, bad for their relatives, bad for the economy, bad for jobs, bad for travel, bad for leisure and bad for business.
This is a huge Black Swan and we weren’t ready for it. The damage is going to last for a few years and that’s only if we don’t get hit again by another event halfway to recovery.
What can we learn from this?
Any crisis is a correction, and this one is no different. We’ve been doing many things wrong and we knew it: we didn’t prioritize, we didn’t strategize and we didn’t learn from past mistakes.
In a way this is a shock to the system, a kick in the balls and we should use it to be more prepared next time.
In fact, I’m pretty sure this time we’ll learn because if we don’t there won’t be a second chance.
Nassim Taleb predicted the economic crisis of 2008 in his book the Black Swan. There, he explains how important is to be aware of rare events with low probability but vast consequences.
These Black Swan events are almost impossible to predict and yet they occur with certain frequency.
It’s not a matter of if but a matter of when
