[raganwald]

Careful, the expression "every sane person..." treads awfully close to "No True Scotsman..." http://en.wikipedia.org/wiki/No_true_Scotsman

More importantly, distinguishing gains from risk is only meaningful if gains are entirely decoupled from risk. I claim that many entrepreneurs seek non-monetary gains like prestige or autonomy, and pursue strategies that maximize prestige or autonomy at the expense of their risk-adjusted financial gain.

A taste for risk and/or a taste for the pure satisfaction of managing risk is a non-monetary gain. If we accept my claim that some entrepreneurs seek some non-monetary gains, how can we be certain that no entrepreneur seeks risk as its own reward?

My unprofessional opinion is that some entrepreneurs seek risk and rationalize their risk-seeking behaviour as a quest for maximal financial gains. I'd extend that risk-seeking and rationalizing behavior to explain why many people join early-stage startups. When you look at the average risk-adjusted return of being a startup employee, a great deal of rationalization is necessary to claim that you're in it for the money.

[metamemetics]

> non-monetary gains like prestige or autonomy

"Gains" obviously did not refer to strictly cash. Gains refers to anything you value. Cash is just a tool. I would go further than you and say the vast majority of entrepreneurs seek autonomy. Use occam's razor when interpreting the statements of others.