It's been shocking for me to see how terrified multi-millionaires are to invest even $100K into a risky but potentially transformative project; instead preferring to pile onto the latest hot startups which other big investors are dumping their money into... Like a herd of sheep. This behavior underlies a lack of self-confidence.
When you have a lot of money, your odds of success are much better, so why waste it and act like a sheep? Is it because a lot of wealthy people nowadays come from lower classes and they've struggled to shake off the herd mentality which is so pervasive among the lower classes of society? They think they're playing the same game as before; with all odds stacked against them, but this mindset is counterproductive to a wealthy person. Once you have a lot of money, the game is rigged in your favor, not against you; there is no excuse to act like a sheep anymore.
If the majority of rich people keep acting like sheep, the system will collapse under its own weight from the sheer inefficiency. Capitalism doesn't tolerate deadweight; it shakes it all off sooner or later.
Now investors are realizing that if they want to only make safe bets, then they should just invest in Bitcoin or some other scheme with high network effects... Maybe now is a good time for investors to actually judge investments based on their disruptive potential instead of just looking to other investors to outsource decisions. If you just want to participate in a social scheme; just invest in crypto. If you want to invest in a business, then you can't avoid taking risks!