Articles

Black Swan Event

What Is a Black Swan Event in Simple Terms?

A black swan event is something that almost no one saw coming, causes a huge impact and only seems obvious after it has already happened.

Black Swan Event in Real Life

The COVID-19 Pandemic. The world was largely unprepared when it arrived. Within weeks, economies shut down, supply chains broke and daily life changed for billions of people simultaneously.
The 2004 Indian Ocean Tsunami. It killed over 230,000 people across 14 countries. It was a global trauma that occurred on a scale that modern satellite and warning systems were supposed to have solved.
The Rise of the Internet. An example of a Positive Black Swan. It wasn't just an invention, it was a total restructuring of human reality.

Conclusion

Things that never happened before, happen all the time.

Worth your time?

Subscribe

Read more

The Tragedy of the Commons

The Tragedy of the Commons

What Is the Tragedy of the Commons in Simple Terms? The tragedy of the commons describes a phenomenon in which individuals, acting primarily in their own self-interest, overuse finite shared resources, ultimately harming the entire group. The Tragedy of the Commons in Real Life 1. Excessive Fishing. When fishermen are

Fundamental Attribution Error

Fundamental Attribution Error

What Is the Fundamental Attribution Error in Simple Terms? The fundamental attribution error is the tendency to view other people’s behavior as a reflection of their character or personality, while overlooking the situational factors that may have influenced their actions. Fundamental Attribution Error in Real Life 1. You see

Marginal Gains

Marginal Gains

What Are Marginal Gains in Simple Terms? Marginal gains is the idea that breaking a process into small parts and improving each one by just 1% can lead to significant overall improvement over time. Marginal Gains in Real Life 1. A restaurant wants to improve customer satisfaction, but it cannot

Confirmation Bias

Confirmation Bias

What is Confirmation Bias in Simple Terms? Confirmation bias is the practice of favoring information that confirms our existing beliefs while discarding anything that challenges them. Confirmation Bias in Real Life 1. Reading news exclusively from sources that align with our existing beliefs, while ignoring everything else. 2. Deciding you