In the land of the blind , the "less blind" is king:

Let's dive into two situations:

A) You collected a random sample of 10 people from India and calculated the net worth of each individual.

B) In this case you chose again 10 random men from India, but this time instead of calculating their net worth you calculated the height of each individual in feet.

Now, buckelup your seat belts because we're going to do something interesting here.

Let's pickup the tallest man in India ever(in records) and the wealthiest man in India ever(in records).

Let's add the height of the tallest man to the sum total of all heights of the 10 randomly selected men in India. What do you think will happen? the height of the tallest man will form a very small percentage of the sum total of all heights of the 10 randomly selected men. But on the contrary if you add the net worth of the wealthiest man in the history of India, then that will form a huge percentage of the sum total of wealth of those 10 random men and most likely it will surpass the sum of wealth of those 10 men by a huge margin.

So what is the central point of all this blabber?

The point is that Black Swans always occure in domains where one data or observation can form a huge percentage of the population or even surpass the population ( the land of the extreme). We don't see Black Swans occurring in domains where one data or observation cannot form a huge percentage of the population i.e; It's impossible to find a guy as tall as the burj khalifa or a guy as heavy as the moon! ( the land of the mediocre).

From here onwards in my further blogs I'll refer the two lands as Mediocrepur( Land of the mediocre) and Extremepur ( Land of the extreme).

Now, we'll discuss several other dynamics of Black Swans and it's sources in my further blogs.