The Black Swan, Second Edition: The Impact of the Highly Improbable: With a new section: "On Robustness and Fragility" cover art

The Black Swan, Second Edition: The Impact of the Highly Improbable: With a new section: "On Robustness and Fragility"

Incerto, Book 2

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The Black Swan, Second Edition: The Impact of the Highly Improbable: With a new section: "On Robustness and Fragility"

By: Nassim Nicholas Taleb
Narrated by: Joe Ochman
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About this listen

The Black Swan is a standalone book in Nassim Nicholas Taleb’s landmark Incerto series, an investigation of opacity, luck, uncertainty, probability, human error, risk, and decision-making in a world we don’t understand. The other books in the series are Fooled by Randomness, Antifragile, Skin in the Game, and The Bed of Procrustes.

A black swan is a highly improbable event with three principal characteristics: It is unpredictable; it carries a massive impact; and, after the fact, we concoct an explanation that makes it appear less random, and more predictable, than it was. The astonishing success of Google was a black swan; so was 9/11. For Nassim Nicholas Taleb, black swans underlie almost everything about our world, from the rise of religions to events in our own personal lives.

Why do we not acknowledge the phenomenon of black swans until after they occur? Part of the answer, according to Taleb, is that humans are hardwired to learn specifics when they should be focused on generalities. We concentrate on things we already know and time and time again fail to take into consideration what we don’t know. We are, therefore, unable to truly estimate opportunities, too vulnerable to the impulse to simplify, narrate, and categorize, and not open enough to rewarding those who can imagine the “impossible.”

For years, Taleb has studied how we fool ourselves into thinking we know more than we actually do. We restrict our thinking to the irrelevant and inconsequential, while large events continue to surprise us and shape our world. In this revelatory book, Taleb explains everything we know about what we don’t know, and this second edition features a new philosophical and empirical essay, “On Robustness and Fragility,” which offers tools to navigate and exploit a Black Swan world.

Elegant, startling, and universal in its applications, The Black Swan will change the way you look at the world. Taleb is a vastly entertaining writer, with wit, irreverence, and unusual stories to tell. He has a polymathic command of subjects ranging from cognitive science to business to probability theory. The Black Swan is a landmark book—itself a black swan.

Includes a bonus pdf of tables and figures.

Praise for Nassim Nicholas Taleb

“The most prophetic voice of all.”—GQ

Praise for The Black Swan

“[A book] that altered modern thinking.”The Times (London)

“A masterpiece.”—Chris Anderson, editor in chief of Wired, author of The Long Tail

“Idiosyncratically brilliant.”—Niall Ferguson, Los Angeles Times

The Black Swan changed my view of how the world works.”—Daniel Kahneman, Nobel laureate

“[Taleb writes] in a style that owes as much to Stephen Colbert as it does to Michel de Montaigne. . . . We eagerly romp with him through the follies of confirmation bias [and] narrative fallacy.”—The Wall Street Journal

“Hugely enjoyable—compelling . . . easy to dip into.”Financial Times

“Engaging . . . The Black Swan has appealing cheek and admirable ambition.”—The New York Times Book Review
Career Success Corporate & Public Finance Decision-Making & Problem Solving Insurance Business Management Leadership Capitalism

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Critic reviews

Praise for Nassim Nicholas Taleb

“The most prophetic voice of all.”—GQ

Praise for The Black Swan

“[A book] that altered modern thinking.”The Times (London)

“A masterpiece.”—Chris Anderson, editor in chief of Wired, author of The Long Tail

“Idiosyncratically brilliant.”—Niall Ferguson, Los Angeles Times

The Black Swan changed my view of how the world works.”—Daniel Kahneman, Nobel laureate

“[Taleb writes] in a style that owes as much to Stephen Colbert as it does to Michel de Montaigne. . . . We eagerly romp with him through the follies of confirmation bias [and] narrative fallacy.”—The Wall Street Journal

“Hugely enjoyable—compelling . . . easy to dip into.”Financial Times

“Engaging . . . The Black Swan has appealing cheek and admirable ambition.”—The New York Times Book Review
All stars
Most relevant
Very nerdy. Also very interesting. But if you’re an ordinary person don’t expect to fully understand most of it. A book summary would be good in addition considering the length of the book, but I’ll jade to find one elsewhere

Nerdy for sure!

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Quite a long listen but so much interesting content. Very eye opening and I will now take a sceptical mindset to news articles and studies stating statistics.

Eye opening insight to the misuse of statistics

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The author’s passion carries you through this debunking of the assumptions that dominate economics at great pace and with interest maintained throughout. He also avoids going overly technical which opens his work to the lay person. I thoroughly enjoyed this.

Black Swan

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Took me less than a week to finish at 1,4x. Some chapters can easily be skipped. Some good points especially in the added essays on fragility and robustness.
His point can be summarized as don't become a "glasscanon" built on randomness, because while it may be powerful momentarily, it shatters due to fragility, when that randomness is disapproved or affected by a black swan event.

Good

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it shows the flaws of the bell curve, a few w chapter are boring but the author warn you about it

bell curve

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