I think founders do those same calculations, Since you can't be successful if you can't accurately judge risk, but I think the utility function is different in

I think founders do those same calculations, Since you can't be successful if you can't accurately judge risk, but I think the utility function is different in how founders value non-monetary rewards and the mission of the company etc, and I think founders might also see themselves as in positions to influence those payoff numbers to increase the probability of success or the venture or the payoff as t the end.