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To me it appears the same group of kids is doing it, but now with college degrees. I have a friend who was a GC at 25, the main obstacle to his success was access to capital, which he achieved through a friend's father who was already in the business and looking for investment opportunities.

He spent a bunch of years working on his skills and doing his own work, but now just subcontracts all the labor (mostly to immigrants), deals with legal/zoning issues, and keeps the client happy.

I suspect the old system (start at the bottom, amass skills & capital until you're on top) won't work anymore, because the capital arrangement strongly favors people with a money connection over skills. But time will tell.