Is History a Guide to Financial Services?

When i think about financial it seems to me it's easy for generalists a to get themselves into trouble, cause it can be hard to discern what is really innovation. And certain business models seem to come in and out of fashion, whether that's lending or there's so im curious how how you think about this. What kind of is our financials? Is this an area where history as as a guide is particularly useful, or is that treacherous now with the internet? How do you think? And where people get themselvesinto trouble? It sort of cause, i like to study history, but i'm sort of very wary of it's easy to just draw, you know, some kind