This is an unproven assumption. Individual perception of risk, and psychological risk orientation vary quite a bit. Decision-making is largely not rational, r

This is an unproven assumption. Individual perception of risk, and psychological risk orientation vary quite a bit. Decision-making is largely not rational, rather more based on pattern-matching, personal biases, etc. the idea that fear of failure is somehow useful in marking the likelihood of success is simply not supported by fact. Tnere is just as much reason to believe that randomly trying various entrepreneurial efforts would be just as fruitful.