I am forwarding the below link merely because the author made an interesting discussion on this topic.
Being Unprepared for the Crisis Does Not Make it a Black Swan
The following is a quote from the discussion – after the “:” the author lists various perceived high-ranking authorities that have warned of pandemic risks for years. Of course, simply warning of a possible pandemic doesn’t equal knowledgeably recommending specifically what should be done to prepare – a broad or general warning of risk without in depth, specific, knowledgeable evaluation, etc. isn’t actual risk management.
Here is the quote from the discussion:
“You may ask what is a black swan?
A black swan is defined as an unforeseen/unpredictable event has a significant impact on the organization (or industry, or economy). The term refers to how in Europe it was understood that all swans, as in the bird, are white. There was no concept of a black swan. Then some explorer overseas finds a black swan and changes the paradigm of what swans are.
The truth is that we have had pandemics in the past. We have had threats of pandemics. We have been warned countless times about it:”
You will find the entire discussion at: https://www.linkedin.com/pulse/being-unprepared-crisis-does-make-black-swan-michael-rasmussen/
Best to you, Dave Tate, Esq. (San Francisco and California)
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Best to you, David Tate, Esq. (and inactive California CPA) – practicing in California only.
I am also the Chair of the Business Law Section of the Bar Association of San Francisco.
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