Many of these “business geniuses” do the following:
buy struggling business cheap
reduce expenses (biggest expense is always salaries, so fire a lot of people)
on paper, the business is making money (while the rest of the staff frantically try to survive without enough manpower and with a lot of loss on knowledge and experience)
sell doomed business before it collapses (remember: on paper, it looks healthy)
Many of these “business geniuses” do the following:
It’s a Bigger Idiot Scam: buy company, make it look valuable, sell it for profit to a bigger idiot, until someone is left holding the bag.
Except that someone can usually still gut it, sell its assets and push the cost on those that weren’t lucky enough to land a new job ahead of time.