> If you take the attitude "I don't have any chance of investing in one of these outliers", you'll only invest in "safe" things and go broke over time.

This is an absurd conclusion from my comment. We still have unicorns and companies that grow 100x and 1000x without being FAANG. Those are great investments. I'd argue that they aren't safe either. I think you're finding a conclusion by looking at the answer. There's also only 4 companies there out of hundreds of thousands. You can't find the signal in the noise. As many others have pointed out here, companies you list also have another common factor: the internet was new. This offsets the industry experience factor that the paper discussed because there was no industry to speak of. This gives younger people an advantage. But there's not really something like that right now.