> Give passionate CEOs money and you get the next big scam.This has been the case for decades, yet we still seem to have not learned this.
This is my observation, from having seen this happen in a couple of industries, and hearing of it happening in others.
There seems to be a "sweet spot," in new money-making stuff, where real value is produced, rewards are reaped, and scamming is low.
The industry starts off with small-scale passion projects, and relatively low rewards. Virtually no scamming, but also modest financial gains, as the passion-players start to establish the infrastructure.
Then it starts to "catch on," and a more professional approach is applied. The industry starts to scale, and the first folks on the upswing start to make some good money.
Then, after that, the scale goes up exponentially, the quality of the work nosedives, the rewards pile up, and the scamming becomes more prevalent. Many of the originators fall down, because they can't adapt to the new darwinian order.
Eventually, the whole thing becomes so corrupted, that it collapses under its own weight.
Rinse and repeat.