There are so many wealth making opportunities that give more than literally zero expected value, and don't require 20% of your wealth.
You can become rich by following the rules of expected value and compound interest.
Backtest this against the population and tell me that people today wouldn't be richer if they made sound financial decisions based on the information at the time. I know I would be richer. The kicker is, wealth inequality would rise along with median wealth, because compound interest. This is so unpalatable for some people that they argue against sound decision making and reduce wealth creation to coin flips.
While I’m not sure I’m following you 100%, luck takes a bigger part the higher the wealth. For example, existing billionaires have a way higher chance of having inherited a huge sum than the average population. If you take sound financial decisions you might get up to a million or a few, and above that it will be always more luck than skills. 100000x that is a huge lot of luck.
You can become rich by following the rules of expected value and compound interest.
Backtest this against the population and tell me that people today wouldn't be richer if they made sound financial decisions based on the information at the time. I know I would be richer. The kicker is, wealth inequality would rise along with median wealth, because compound interest. This is so unpalatable for some people that they argue against sound decision making and reduce wealth creation to coin flips.