Gregory V. Milano emphasizes the importance of evaluating investments using the net present value (NPV) rule, a fundamental concept in corporate finance. While NPV is widely accepted as a valuable tool for decision-making, Milano points out that many companies often overlook the significance of analyzing zero or negative NPV investments. He argues that even when an investment shows a negative NPV, it's crucial to assess various alternatives to find the least negative option. Additionally, tracking performance against minimum milestones after investment can provide insights into whether expected benefits are materializing. Milano warns against artificially supporting projects with negative NPV through misallocated costs, emphasizing that facing reality and clear financial assessments lead to better decision-making in the long run.