Nassim Nicholas Taleb’s book, “The Black Swan,” terms certain seismic events as “black swans.” The book’s title alludes to an ancient Latin expression (rara avis in terris nigroque simillima cygno) that presumed black swans did not exist because they had never been seen. Black swans did, in fact, exist, showing that reducing conclusions to past human observations can be faulty. Taleb defines black swans as rare events that have drastic economic consequences and can only be predicted in retrospect.

Taleb argues that black swans expose fundamental structural weaknesses and typically create pervasive future changes to address those weaknesses. Debate exists over whether the COVID-19 outbreak qualifies as a black swan. But one thing is certain: COVID-19 will alter the societal fiber of America and, more specifically, the practice of law in the short term and possibly the long term. While black swan events wreak havoc, they also create realignments and new opportunities, alter norms and can improve efficiencies.

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