From my experience, I find this is true only in the very core of core tech hubs that you can count on one hand. And also with a bias towards finance, adtech, crypto, fintech and other industries that rely on extracting wealth than creating it.

Core R&D, hardware, B2B services, networking companies, etc. and then also the factor of geographic places that aren't considered "sexy" in the HN crowd revert to the mean for that geographic area in regards to the mix of political leanings.

I disagree it's about hard work, but about ego about how society deserves to value them. That correlates only really under the age of 35 before their first health scare when suddenly society owes something to them that they never previously wanted to feed a cent into.