It is about equal outcome rather than equal opportunity. It prevents people from pursuing their ambitions as it gives them the same result as if they did not. Look at Venezuela. Their people are starving, but they have the biggest oil reserve in the world. Recently in fact, it was revealed that Venezuela is so broke, it can't export its oil as they cannot pay the port fees. Look at North Korea and South Korea and decide which one made the better choice between capitalism and socialism (I know North Korea is communist but in my eyes it is the same thing as socialism and the difference of manslaughter and murder). The one fairly good example you could show is China, however many of their people are starving and I would not call China a communist country. I would say it actually has a capitalistic economy with some socialist tendencies. Cuba also has failed with its communism (same principles of socialism) . Half the population in Cuba survive on less than $1 a day. So there are no good examples of socialism and it is a horrible thing in every aspect.
But socialism, state ownership of the means of production, should be avoided and fought at all costs. All it is, in essence, is a monopoly that no one may compete against, and will rob all people under it. Making it democratic makes it no better; if anything, it means people better at talking the big talk and running with the riches will win the most in such a system.