[nme01]

Exactly what I had in mind. Just to make my point more understandable: if I own an apartment and I pursue my dream and sell it so that I can invest it in my startup, that’s risking it all. Does such strategy have a positive outcome in the long run (even if by outcome we only mean happiness however it’s measured)? I doubt that.

Bringing down risk taking to a simple “risk it all” is a trivia that is maybe inspiring but naive.

What’s worse, those kinds of strategies are appealing to people mostly because of survivorship bias: one hears inspiring stories from those who risked it all and made it to the top but rarely from those who loosed it all (those don’t sell too well).

[abm53]

That said, I think the point made by others that your non-tangible assets (education, knowledge, personal network) should be included in your capital when considering your bet size is a valid one.

Losing your apartment isn't really an absorbing state if you can still take a salaried job, re-accumulate, and then continue to make further bets.