Back in the 1980s, Tandem Computers’ robust earning reports made it a darling of Wall Street. Its CEO and cofounder James Treybig had pioneered a superhot technology, a way to make “fault tolerant” computers for companies like banks and telecommunications businesses running data-processing operations around the clock. But in 1983, it came to light that Tandem had counted a chicken or two before they’d hatched. Some of the revenue reported in its most recent financial statements had not actually materialized, and earnings had to be restated. The Street’s retribution was swift: Tandem’s share price immediately dropped 30%. In time, the company recovered (it was ultimately acquired by Compaq), but the event left a lasting impression. When a Wall Street Journal reporter asked Treybig to recall his most exciting day at Tandem, he couldn’t. But when asked to pick his worst day, he answered without pause: “The day we restated.”