[laaph]

You are having two different people evaluating different situations. Having the same person evaluate the situations would make for a different picture.

Put $500000 in to a new business: This may make lots of money, or you may lose it all. That part stays the same whether or not you are rich or have to beg, borrow and steal the money.

Put 2000 hours in to a job: You are almost certain to be able to collect the money from the hours you put in to the job, no matter if the company goes bankrupt or not. Your expect value may come out lower than starting a new business, but your worst case scenario is much better. Even in the case of the employer leaving town and a locked door when you go to collect your paycheck, most governments have some kind of program to pay employees when there employer does not and to chase down and punish the employer for not paying.

It's impossible for me to fully evaluate the two risks, but I agree with conventional wisdom that having a job is the less risky path for an average individual to take. For the investor, perhaps things are different.

I don't think it has anything to do with higher status, though.