The Black Swan, the turkey, and the bell curve. For our turkey, Every day is a good day.
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Transcript of The Black Swan, the turkey, and the bell curve. For our turkey, Every day is a good day.
…UNTIL the highly improbable occurs...
An outlier? YesExtreme impact? Yes
Retrospective hindsight? Yes
Thanksgiving is the turkey’s Black Swan event!
Bell curves help to hide black swansThe Experiment
•Toss 10 identical coins (Heads/Tails)•Note results•Repeat 999 other times•Plot results on Bell Curve
Bell Curves
Bell curves hide randomness and the “unpredictable”
Frequency
What if were looking at the distribution of earthquakes?
Medium sizeNo seismic activity
Catastrophic
Black Swan territory
Bell Curves
What if were looking at the distribution of earthquakes?
Bell curves hide randomness and the “unpredictable”
7
Frequency
Black Swan territory
So What?
We want to avoid being the turkey! No one agency can do this alone
The past doesn’t prepare us for the future Avoid the temptation to revert to “ABC Agency
always provides XYZ after a disaster” We can’t predict the future, nor Black Swan
events, but they will happen Pre-event coordination is critical!
By focusing on the “most likely” events, we’re blind to Black Swans
What can we do about it?
Turn Black Swans into white swans by Identifying areas of vulnerability Addressing areas of vulnerability
Continuously adapting to avoid becoming the turkey
Why Partner with Voluntary, Faith-Based and Community Based Organizations ?
Understanding local needs
Flexible
High impact / low cost
Avoid becoming the turkey!