Long slender columns are more prone to failure due to instability rather than material strength. In such columns, buckling becomes the governing mode of failure before the material can yield.
Specifically, lateral-torsional buckling occurs when compression causes both lateral deflection and twisting. This is a critical mode of failure in slender members subjected to axial compressive loads, especially in structural steel design.
Hence, lateral-torsional buckling is the correct reason for failure in long slender columns.