I'd say it's a mix of arrogance and lack of education. Arrogance because "woah, Facebook billions. I'm going social network direction" without any such idea to

I'd say it's a mix of arrogance and lack of education. Arrogance because "woah, Facebook billions. I'm going social network direction" without any such idea to be better. Lack of education can also mean lack of experience. Areas are: Business/Finance (Stocks, hiring, etc), creative skills, design skills and user experience skills. Math/Programming seems to be the fortitude of most of them but that alone won't execute well.