After spending some time in that circle, it drives me insane that the biggest idiots in various fields are the ones ostensibly in charge of them. They toss buzz words with confidence each other in a great circle jerk of money while their results are frequently no better than luck.

It’s the “Peter principle”:

The Peter principle is a concept in management developed by Laurence J. Peter which observes that people in a hierarchy tend to rise to “a level of respective incompetence”: employees are promoted based on their success in previous jobs until they reach a level at which they are no longer competent, as skills in one job do not necessarily translate to another.

https://en.wikipedia.org/wiki/Peter_principle