"the median is somewhat arbitrary" I don't know if it matters, but: in the bet everything scenario you end up with 1023 people who will be poorer than they wou

"the median is somewhat arbitrary" I don't know if it matters, but: in the bet everything scenario you end up with 1023 people who will be poorer than they would be in the Kelly scenario. In the 25th percentile maximizing case, you end up with 852 people who will be poorer than in the Kelly case. Imagine you are running a bank, then in both of your alternative cases a large majority of people would be upset: "If you used Kelly Criterion we would have been richer"