Sounds a bit like the "cultural fit" narrative that has been used by some FAANG companies to prefer people from certain ethnicities
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Tech was predominantly white (as was the US) in the 70s, by the 90s Asians and Indians were over represented.
I'll submit this is prima facie evidence that tech was (and is to some degree) highly meritocratic, and more so than any other large portion of the economy.
I don't deny your view, and I agree that it may be a little more meritocratic, but maybe not endeudamiento anymore.