It's more about the relative change in the weight of the factors. Luck has always been important, but often required extra effort to go with it. Generally if th

It's more about the relative change in the weight of the factors. Luck has always been important, but often required extra effort to go with it. Generally if there was an opportunity to be seized you had to do some active seizing. The arena is now a lot more volatile and virtualized. The methods to capture surplus are a lot more random and granular. The surplus itself is bigger and more diversified. Lottery tickets are an old institution, but now you have tickets lying around in random chatrooms all over the place. This is reflected in modern investing strategies. It's now all about throwing money and hoping some of it sticks to a unicorn.