Many, through hindsight, have suggested that some events like the financial crisis of 2008 were predictable, but we all know even with hindsight that timing the event was impossible. Therefore even the most minor of the events remain completely unpredictable. As a quick aside I don’t agree that a Black Swan Event can be a positive event such as the birth of the internet since the impact is far to long term for my definition. Only a devastating event has enough impact to change the “known” landscape in an instant.
The reason I bring this up is one of the interesting ideas that goes along with this is the notion of collective blindness leading up to the event. I personally think that to a large degree we have seen collective blindness as a contributing factor to why we had the financial crisis. Everybody enjoyed the endless growth, but nobody was willing to step back far enough and ask whether it was sustainable and what would happen when the music stopped.
Taleb’s basic theory is that all consequential events come from the unexpected. So thinking of all of this, I find it fascinating to look at the current state of the golf design business. I was reading about the level of work in the
What would happen to the golf design business if the government of