I just found this out about Michael Bloomberg: He is a "self made billionare"

[Blue_true]

87. "society's property institutions"? Sounds like an endorsement for socialism, which has never worked

In socialist systems there is more income and wealth inequality than in capitalist systems, far more. Don't make the common jump and try to conflate socialism or it's butt-close brother democratic socialism with social democracy, that is like comparing a banana to a rock.

I will use an example of a person that you most likely love to hate. Jeff Bezos. I can see can feel the rage from here, but listen. Bezos started out selling and re-selling books online from his home. He figured that many people were too busy to go to Waldenbook or Borders and buy books, but if the books were delivered to their door!!!? So he and his former wife started filling orders. Then someone that made bookmarks said, hey, can you sell my bookmarks on your site? Then someone else that made specialty book covers sold on the site, and so forth. Now Amazon sells stuff that have NOTHING to do with books and Bezos, post divorce, is worth over $100 billion dollars. According to your premise, a piss little online bookseller had no prayer against the giants of that time, Waldenbooks and Borders, yet look who is standing now. The giants early on had the financing AND connections that you claim small players need to succeed, even with good ideas, Bezos and his wife had some financing, but nothing remotely like the giants had.

We are off topic from the OP, so I will stop now.