It doesn't matter if a risk does harm a small company - in the worst case it folds and everybody involved jumps into something else. The amount of disruption an

It doesn't matter if a risk does harm a small company - in the worst case it folds and everybody involved jumps into something else. The amount of disruption and economic damage is limited to the participants. If a large company goes broke the disruption and damage spread far beyond the pool of employees. Small companies need to try to win (and risk dying in the process). Large companies need to try not to lose (and risk stagnating instead). It's an interesting consequence of the effects of scale. Edit: I would relate it more to an Anthropic Principle than the gambler's fallacy. There is a lot of survivor bias in the stories that we hear about.