The simple math of the Yard-Sale Model shows that if everybody started out with equal money in a fair economy, the outcome tends toward one person holding all of the money. The cool graphical simulations on this page demonstrate why.
The simple math of the Yard-Sale Model shows that if everybody started out with equal money in a fair economy, the outcome tends toward one person holding all of the money. The cool graphical simulations on this page demonstrate why.
Nah I’m built different.
The probability of you getting 74 (or more) wins in 122 fair coin flips is ~1.16%
You’ve demonstrated exactly how the system works. Statistically a few players will be lucky and become very rich. They’ll be looked at as “built different”. All the other poor players will try to emulate them as if they can beat the system by achieving some virtue like working hard enough or having innate skill rather than realize the system is mathematically impossible to beat.
The highest highs, the lowest lows.
I’m an idiot
And you only had to win at a 60% rate. Less than I expected
The odds of that are still ~1.1%. He got very lucky