You'd be surprised how many "scale-up"'s are owned by genuine idiots. I don't even mean inexperienced people, just people that - if you were to meet them for the first time - seem like they are fucking idiots. The type that recently figured out you can tie your shoe instead of tripping over them.
Those people own a yacht, a big house, all that stuff. I don't know how they do it. Is it incompetence, is it unwillingness? are they retarded? we'll never know...
Flowers for Algernon has something to say about this.
So Silicon Valley's big-head is based on an actual stereotype?
>I don't know how they do it.
They are too dumb to not be confident. Plenty of confident dumb people are poor and try get rich quick schemes. Occasionally some of them work, and now you have a dumb business owner.