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Maybe it started with Jobs, maybe it's always been a thing in other spaces (politics, religion...) and is now coming to business and these uber wealthy individuals who put their pants on two legs at a time
There are times when concentration of capital leads to a disproportionate influence of personal relationships and one-on-one deal-making. The same can be said of political or attention capital, not just wealth.
To be fair, that's also what Aristocracy always was, they were just less active in forcing their mad visions onto the world.