I think it was "vision" but we don't think the same way about our own mistakes!
It was the golden age for an FM if you got a bunch of "free" licenses in the 60's and managed to make them work.
As mentioned before, I filed for the first FM anywhere in northern South America (Colombia, Ecuador, Venezuela) and put it on the air in 1966. It was profitable in its first year, and I applied for a whole bunch... 6 just in Quito alone. I spent half my time building transmitters and antennas!
The most amazing thing was to flip "plates on" and go to a tuner and find you have the only signal on an entire band.
Fortunately, at the time we did not even have a commercial TV station in the market but most of those "stereo consoles" everyone in the middle and upper income groups had at home came with FM. So there were, in 1966, more FM sets than TV sets and they were all waiting for something to listen to. But at the next Broadcaster Association meeting, I was called an "idiot" for putting "stupid" stations on the air and "distracting advertisers" from the stations that actually had audience.