Just How Risky Is Entrepreneurship, Really?

There are two views on entrepreneurship in America: the first (largely feigned), that it is a pure virtue like freedom of speech or religion, and the second (real) attitude that it is largely a game for the naïve. Steve Jobs, Mark Zuckerberg, and Michael Dell make fine fodder for commencement speeches, but when parents and career counselors thrust graduates into the job market, the default isn’t entrepreneurship, it’s corporate serfdom. Entrepreneurship is a deviation, an occupation for heroes, heroic for the reasons it can’t be recommended: it’s just too unsafe. But the conventional position is nonsense; building new companies is far more sensible than the practical will admit.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.