[yummyfajitas]

In the US, the result of failure is bankruptcy and burning through your savings, followed by an upper middle class career track. Worst case, you are earning the pay of a 35 year old when you are 40 and your 401k is smaller.

In India, the downside is unbounded. Peru looks wealthy by comparison. 46% of the urban population doesn't have access to improved sanitation. I know a doctor in India who can't afford a water supply with one nine of uptime.

Under the same circumstances, I'm sure you'd also discourage your daughter from marrying an entrepreneur.

Granted, you probably wouldn't be locking her away from the outside world, discouraging her from getting educated (makes her less marriageworthy and harder to control), or selecting her husband for her. But that's a separate issue.