Black Swan Effect (Black Swan Theory) In the 17th century, Europeans have always believed that swans are white. It was not until the appearance of the first black swan that people's previous perception of swans was changed, and the firm belief in "white swans" was overturned. Therefore, "black swan" events refer to certain events that seem to be absolutely impossible to happen, but actually happen in real life. They are usually unexpected and uncontrollable events. (Events with low probability
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