In the book, the author presents the eponymous notion of The Black Swan - a highly improbable event with three principal characteristics: It is unpredictable; it carries a massive impact; and, after the fact, we concoct an explanation that makes it appear less random, and more predictable, than it was. Black swans underlie almost everything about our world, from the rise of religions to events in our own personal lives.

The book is divided into 19 chapters which cover an investigation of opacity, luck, uncertainty, probability, human error, risk, and decision-making in a world we don't understand. Taleb addresses key questions like why do we not acknowledge the phenomenon of black swans until after they occur.