My dad started a company after age 55 that was sort of interesting. He was VP at a Canadian subsidiary of a 50 year old American construction company that had been run into the ground by 20 something lawyers/entrepreneurs/whizkids. When the parent company entered chapter 11, he and a couple of the other employees at the Canadian subsidiary got a loan from the bank, got access to the construction equipment of the bankrupt company, and took over the government contracts that were the bread and butter of the now bankrupt company. He made a significant amount of money in the four years before the parent company managed to exit chapter 11. The twenty something lawyers/entrepreneurs probably moved on to fleecing other investors.
