Think of Sam Bankman-Fried's story too. He kind of won the lottery too in that venture funds showered him with $18bn of funding.
And instead of securing his exchange with pristine reserves full of Treasuries, he gambled it on ventures like Solana and playing the "big shot" rescuing Voyager etc.
And now it's all gone. He had a gambler's mentality for sure.
over confidence breeds poor judgement.