Kelly Criterion exists to manage volatility and risk of ruin. It says what size of bet to make, not whether or not to make a wager. This is no different from

Kelly Criterion exists to manage volatility and risk of ruin. It says what size of bet to make, not whether or not to make a wager. This is no different from a startup, where you might take investment, pay yourself a salary, or sell shares to reduce your personal risk. My original point was that yes, if you believe startups offer much better outcomes than a regular job for you, you really should do startups and ignore everyone telling you not to. However, if the startups you join fail over, and over, and over, and over, at some point you should stop and try to figure out if startups are really not a good idea for you. It may be that the startups you choose to join are bad, or it could be that only badly run startups would hire you, or it could just be a string of bad breaks. Pretending otherwise is pretty foolish.