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I'll do the first one as an example. It's a bit long. :(

Academics aren't good at recognizing the scholarly work of people who are not academics; there just aren't that many people outside of academics doing academic research

Finance is different: top researchers do get paid a lot outside of academics because their research can help their firms make money.

Jack Treynor was the first to develop a version of the capital asset pricing model (the CAPM), but he doesn't usually get recognized. Treynor was a student at Harvard Business School who showed his work to his professor John Lintner, and also to Franco Modigliani (as in, Modigliani-Miller theorem) at MIT. Then he went into private business ... which got academics to stop paying much attention to him.

Lintner does get recognized for the CAPM, as well as a third guy who independently developed the CAPM: William Sharpe. Sharpe did win a Nobel Prize for this in 1990 (shared with Miller of Modigliani-Miller), while Lintner died before he was given one.

Fischer Black, the subject of the book, is very much like Jack Treynor. He did his most influential academic work outside of academics. Just like Jack Treynor though, Black should have won a Nobel Prize earlier in his life. And ... just like Lintner, he died before one was awarded to a co-author and a competitor.