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It's easy with the benefit of hindsight to say a bold investment that didn't pan out was a crazy move.

In this case, it was also easy to say it was a dumb idea contemporaneously.

Unless you were the one of the people saying that this was a dumb idea from the beginning. IIRC there were quite a few people who thought that.

I think you missed the joke, the first line says it was a bad idea in hindsight, the second line says it was also a pretty bad idea in foresight.