2020 brought us a global pandemic, and some people have called it a black swan event. But not Nassim Taleb, the man who coined that term. Like Bill Gates, Laurie Garrett and others, he predicted it.1 Still, among many governments and businesses, there was little preparedness. And when the virus did emerge, response was slow. Inertia, together with a lack of foresight, is all too familiar from previous crises. What is different this time is that the legacy companies are struggling the most. Younger, more digital businesses are rising to the challenge. The fitness phenomenon Zumba, for example, went from 100% in-person training to a community of online classes in just six weeks, standing up an entirely new virtual platform.
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