[xpe]

> Having an appetite for risky things is dumb.

Not necessarily. People have different risk profiles and different ways they value experience. For example, consider this combination: (1) low cost to risk-taking; (2) large financial upside; (3) long-term benefits from the experience; (4) intrinsic enjoyment of the process. My point: there are times when starting a risky business is rational.

[crazygringo]

But that’s exactly my point: if it’s low-cost and large upside, then it’s not exactly a risk is it? It’s just a smart choice.

Risky things are where there’s a large chance of failure while putting all your eggs in one basket, and/or failure comes at a big cost.

The only time starting a "risky" business is rational is when you’re an investor with tons of money so the downside is minimal, or you’re the founder and will enjoy the experience regardless and will lose someone else’s money, not your own. But then, while the “business” is risky, it’s not actually a big risk for either party.