I don't think that's a good example. For all the angst around them online, they both have their redeeming qualities if you actually interact with either.

I know people who work on Wall Street and I know people who work in the White House. They are some of the most brilliant people I know.

That doesn't make the systems they collectively run any less corrupt or terrible than they are.

You originally said:

> These are very intelligent folks we're talking about, I'm sure there is a rational explanation.

If the examples I mentioned aren't good, then logically, there may not be a rational explanation.

But in any case, I think all 3 situations are quite similar. VCs are probably just as smart as the top people in finance and politics, yet they often appear stupid from the outside. It's actually quite intriguing. If I were a researcher, I'd definitely want to investigate this further...