As an analyst who's read through various biographies and the resumes of people in high power positions, you've generally already lost out if you can't list on yours (subtly or not so subtly): "have rich, educated, well connected parents, and use those connections to land your first few jobs or investments".

I suppose there's some marginal value in learning that you should talk the talk and walk the walk to better fit into that culture (and that will open up some opportunities for you), but merit is not how 90%+ of the world works...