How come seemingly smarter than average billionaires make such huge mistakes

Like, what marks did with meta and Elon did with Twitter, they continue to receive negative criticism, lose stock value and people leave their platforms, like, I'm sure it must be part of some bigger plan, not saying I'm smarter than this people.

Am just curious as to how, like how do they think, continue to do the changes people keep complaining about is gonna improve their profits in any way?

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ElwoodBlues · M Best Comment

Big money is made by people who take big risks. Zuckerberg quit Harvard to start a business that charged its users zero $. With a net worth in the tens of billions, I don't think he cares about increasing his net worth. I think he wants to see if he can hit another grand slam home run with VR. Plus he probably likes virtual reality tech and assumes others will too.

Musk has hit two grand slam homers - SpaceX and Tesla, giving him a net worth in the hundreds of billions. I don't think he cares about increasing his net worth. I think he's very very good at managing engineers. Maybe he approached twitter as an engineering problem; didn't realize it's fundamentally about managing the behavior of hundreds of millions of people.

There was a popular theory of business behavior back in the 1960's -

The Peter Principle states that an employee continues to receive promotions to work in higher ranks up to that point where he reaches a level of incompetence. In simple terms, the higher the hierarchy ladder an individual goes, the more likely he is to fail in his new position.

ElwoodBlues · M

@Andromedanian Thanks for BC!

Iwantyourhotwife · 22-25

They're still a human being. People really think that billionaire and millionaires must be smart people but you'd be surprised how dumb many of them are

Iwillwait · M

Money is typically made by a multitude of persons connect with the said Billionaire.

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