There are various issues but as others have mentioned tall poppy syndrome is a big factor in Australia that prevents people from trying. Outside of a very small

There are various issues but as others have mentioned tall poppy syndrome is a big factor in Australia that prevents people from trying. Outside of a very small group of tech/VC people, friends/family/associates will be lining up to watch you fail. Unlike the US, failure is not a commendable outcome so there is increased social risk. This also translates to lower job prospects if you try to get back into the market after a startup failure.