I saw this for myself, in the first computer company I worked for, in 1980.
The company had been founded by a man with many contacts in the Navy – and had benefited from the contracts he got from them. They were the first to use a new technology for making computer graphics – that would soon become an industry standard. The same technology you are using now to view my blog. They had a bright future.
Then the founder walked in to a board meeting – and found he was fired! Another crowd had taken over, and were milking the company for all it was worth. I was hired by these guys, as a tech writer, and I was told to make them look good! I should have walked out, right then – but I was dead broke and needed a job. I stayed on.
I watched as they bought another technology – that made 3-D computer displays – and did nothing with it. It was a great technology that could have gone places – but they saw to it that it went nowhere.
This was my introduction to unethical behavior in organizations – the name of a MOOC I am taking now. It showed me how the worst kind of people can take over.
And how everyone else will not notice this.