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They made their money the old-fashioned way: sheer dumb luck.

"The results are something of an eye-opener. Their simulations accurately reproduce the wealth distribution in the real world. But the wealthiest individuals are not the most talented (although they must have a certain level of talent). They are the luckiest. And this has significant implications for the way societies can optimize the returns they get for investments in everything from business to science."

technologyreview.com/2018/03/0

"If you're so rich, why aren't you smart?"

@beckett They made a model using chance as an element. They saw that the output looked like what we see in life. Does this mean the model is the same as life?

I'm not convinced. There are plenty of ppl who are rich bc their parents were rich. There are plenty of ppl who are rich bc they (ab)used those around them. The model does not seem to account for any of that...

@beckett Capital attracts capital. If you by luck already have a valuable property or money, it's much more likely you'll become richer faster than those who don't

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A Fediverse instance for people interested in cooperative and collective projects.