The biggest business faux pas in history is when Bill Gates asked IBM (who needed MS-DOS) that MS get paid 100% of a license fee for every copy of MS-DOS sold with every IBM computer. And that MS could license the same MS-DOS to "other" companies. IBM decided to let MS take 100% of the SW license fee as they smugly assumed that all money was in the HW and NOT in the SW. And they also thought no "other" company could compete with Big Blue. The rest is history, Gates is the richest man in the world, and IBM is...a footnote in tech history.
Yes, that was one of the classic blunders.
Of course, the most famous blunder is "Never get involved in a land war in Asia," but only slightly less well known is this one:
Apple's exclusivity deal with AT&T, which gave Android years to grow basically unopposed on other American carriers. AT&T made out like a bandit on the deal, while Apple lost over half the country's potential customers.
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