> There's several things that seem to characterize many of these failures, the first is that when founders leave or die companies often seem to lose drive and direction, and second companies become too big and diversification seems to kill their R&D/innovation.

The latter is the downfall of most conglomerates. Kodak invented the digital camera and then failed to capitalize because they were afraid it would cannibalize their film division. Which was true -- it did -- but then the digital camera business went to someone else. Leadership needs to be able to make hard calls like that before it's too late.

Which founders tend to be better at than MBAs.