A line in a restaurant review struck a resonance:
"When a chef opens their first restaurant, it can go badly very quickly … Some chefs see it as an opportunity to strut the staff their bosses always kept in check."
Though it's not an exact parallel, it made me think of how few successful independent publishers have come out of the biggies, from corporate refugees running up the flag of independence. Most of the new publishers that spring up from people leaving the multinationals seem to disappear. Of course most new publishers fail, regardless of origin; but I think there is a contributing element of corporatized overconfidence.
It's cold and chilly out here, and it takes quite a different mindset to survive when you have to pay your own heating bills.