This feeling is, I think, pointing at the comparative ability for the parties involved to efficiently spend money. There is certainly one really good reason to

This feeling is, I think, pointing at the comparative ability for the parties involved to efficiently spend money. There is certainly one really good reason to prefer how a billionaire distributes their money - because they were able to earn a billion dollars in the first place (assuming it's not inherited - if it's inherited then just sign a check). However, I think this belief breaks down when you have organizations pre-established and familiar with efficient ways to spend money in that market - if the nation has a public school system the runners of that system will be happy to distribute those extra funds in the places that have the most need - those next few budget items that got cut because of a shortfall. I personally believe that getting rich is a combination of 30/70 skill vs. luck - without the skill you're never going to get anywhere, but a lot more folks have skill than get the chance to get insanely lucky. Letting established market participants spend that money is almost certainly going to be more efficient than trying to start a new market entrant and hope it does well.