[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.