Well, to be honest there are smart rich folk and dumb rich folk the difference is timing.
The smart ones started the company and funded it early, oversaw its growth and cached out on the hype they had built up. The dumb ones are the ones that purchased it from them.
I'm not rich, but I think I'm very naive as the OP here is. I see an idea and evaluate it based on its long term success. That does not matter if you are not investing in the long term and have some control over its short term fate. This is what I often miss, but honestly I can't get that control needed to invest in bad long term ideas. Anyone taking my money telling me they can do that for me, is going to prioritize their own needs before mine and try to leave me with the bag after the scam, er I mean investment, opportunity comes to meet with market relatize.