[7Figures2Commas]

It's naive to make blanket statements about entrepreneurs. "Entrepreneurs" are not a homogenous group. It appears the author believes that entrepreneurs generally are overconfident, find insolvency to be an acceptable outcome so long as they have a lottery ticket in hand, and fashion themselves as arbitrageurs.

First, it's worth pointing out that arbitrageurs seek to exploit opportunities that are, in theory, risk free. So to suggest that entrepreneurs are looking to "arbitrage the system" while at the same time shooting for the stars when the odds are "slim" is a curious and entirely inconsistent argument.

That notwithstanding, if you look beyond a small group of 20-something entrepreneurs in the Bay Area, you'll find plenty of people who have started businesses who worked at mid-sized and large companies for years. For some, the knowledge and experience gained allowed them to spot the opportunity they're pursuing. For many, the relationships established and good money earned during those years of service put them in a position to pursue the opportunity with far less risk than they would have taken on if they tried to start a company before they had domain expertise, a professional network and financial resources of their own.

It's sad to see folks reduce entrepreneurship to short-sighted risk-taking by individuals who somehow can't or won't function in an organization that isn't their own. Smart entrepreneurs take calculated risks, start businesses in industries they know and don't begin their journeys with a few thousand dollars in the bank.