just as dripping water bores through rock, asset rotation/rebalancing gradually increases the value difference between "good" ideas and "bad" ideas (in theory)
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this is also quite rational. monopolies, scams, etc... are the lowest form of risk. if risk taking money making skill is incentivized, legal theft w/ a lot of extra steps is basically lowest risk. (b/c the black swan event of getting 'caught' can't be priced in since it's legal!)
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most people who hate doge millionaires for e.g. probably *wouldn't* if they themselves were a doge millionaire.https://twitter.com/a_yawning_cat/status/1363742122675871744?s=20 …
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being able to figure out a "system" that extracts value w/ minimal effort (a peter thiel style monopoly) is considered a virtue as is becoming the chosen one lottery style.
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