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[A]ll else being equal, the smarter and harder-working person will win, right?

But in actuality, all else is never equal. Then we use the outcome of that unequal scenario to judge after the fact who was the smarter and harder-working. In poker you have a very regular, controlled game. Imagine a tournament where some players were randomly given extra aces, then try and figure out who the best players really are. That's the corporate CEO market.



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