I'd bet it's fundamentally misunderstanding the market that they go into. So many companies/founders rip the same playbook and go headstrong into a market with

I'd bet it's fundamentally misunderstanding the market that they go into. So many companies/founders rip the same playbook and go headstrong into a market without understanding all the nuances. That's obviously a gross oversimplification but if I was to choose the number 1 reason that's my guess.