Bernoulli's theorem, established by Swiss physicist Daniel Bernoulli in 1738, describes the relationship between fluid velocity and pressure, stating that an increase in fluid speed leads to a decrease in pressure. This principle is fundamental in various applications, including calculating lift forces on airfoils, carburetor function, and pressure measurements with devices like pitot tubes. Bernoulli's equation emphasizes the conservation of energy in fluid dynamics, where the combined pressure, kinetic, and potential energies remain constant along a streamline.