Crossword Genius

Arrogant folks open up in fortunate times (8)

Ross

I believe the answer is:

upstarts

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'arrogant folks open up in fortunate times' is the definition.
I can't tell whether this definition defines the answer.

'up in fortunate times' is the wordplay.
'in fortunate times' becomes 'starts' (I can't justify this - if you can you should believe this answer much more).
'up'+'starts'='UPSTARTS'

Can you help me to learn more?

(Other definitions for upstarts that I've seen before include "Parvenus" , "Arrogant types" , "People who have risen suddenly to authority, arrogant with it" , "Nouveau-riches, arrivistes" , "Arrogant people just arrived in high positions" .)

I've seen this clue in The Times.
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