Part 2/10:
Andreas challenges the traditional notion of a black swan — an unpredictable and rare event with catastrophic consequences. He argues that what many consider black swans today are, in fact, white swans: events that are entirely predictable once the warning signs are in place, and which we've seen happen before. For example, he's quick to point out that the collapse of a major European bank like Deutsche Bank is not an improbable scenario but an event that has been forecasted repeatedly in financial circles.