Company managements often develop blind spots, missing critical pitfalls in major investment decisions and neglecting historical lessons. Outsiders, with broader perspectives, can identify these patterns. The author cites recurring airline failures, problematic acquisitions, and predictable busts of telecom and dotcom manias. Current tech hype, including Elon Musk's unfulfilled predictions and poor long-term returns of past "survivors," is criticized. All investments, regardless of CEO confidence, must yield economic returns—a financial law frequently ignored during speculative manias, leading to collapses.