We see this all of the time. Business makes successful bets in one area and tries to make bets in new area and fails.
Once you achieve wealth it gives you the opportunity to make more bets many of which will fail.
The greater and younger the success the more hubris. You are more likely to see fools or people taking bad risks when they earned it themselves. They have a history of betting on themselves and past success that creates an ego that overrides common sense.
When you inherit money you protect it (or spend it on material things) because you have no history of ever being able to generate money.
Once you achieve wealth it gives you the opportunity to make more bets many of which will fail.
The greater and younger the success the more hubris. You are more likely to see fools or people taking bad risks when they earned it themselves. They have a history of betting on themselves and past success that creates an ego that overrides common sense.
When you inherit money you protect it (or spend it on material things) because you have no history of ever being able to generate money.