A bozo is someone who thinks they are much smarter and capable than they actually are. They constantly over-estimate their abilities and under-estimate the risks and threats around them. They typically don’t keep an open-mind. They look instead for data that confirms a previously held bias. They also don’t handle details well. They expect other people to clean up their messes when they happen, and so don’t feel the need to obsess over the little things. Because they don’t have a keen sense for the competitive market in which they operate, they typically don’t have good judgment in key strategic decisions or when hiring top talent. Instead of hiring the smartest folks around them, bozos prefer to hire people who blow smoke, telling them how great they are, or for some non-obvious business reason such as sharing the same college or frat.