That's why going to an elite school is such a lifeline for people from bottom quartile backgrounds. Getting the opportunity socialize with people born at the top and be treated as a peer in an institutional environment is invaluable. That alone is worth the price of admission.

It doesn't have to be your parents, but it has to be someone with money who already knows you, trusts you, and feels like you identify with them and their interests.

Of course, you could also work your way up slowly and prove your mettle through decades of dedicated service to your employer. But I'm not sure how you'd build that long track record of likability and trust to be able to raise millions at work when your entire job history is a 3 month internship.

I mean, we can blame them from systematically investing in things fraudulent by design.

What's the percentage here?

I mean, rich kid fuckup still end up pretty good, unless they are full on addicts who committed robbery. And even then they get much better and qualified defense layer - ending with much lower punishment. But normally, they get a pretty good job through parents network and somehow muddle through.

> CEOs with poor backgrounds.

Statistically, upward mobility is low these days, people stay where they are born. So, I think that statistically there are not that many of those.