Exactly what I had in mind. Just to make my point more understandable: if I own an apartment and I pursue my dream and sell it so that I can invest it in my startup, that’s risking it all. Does such strategy have a positive outcome in the long run (even if by outcome we only mean happiness however it’s measured)? I doubt that.
Bringing down risk taking to a simple “risk it all” is a trivia that is maybe inspiring but naive.
What’s worse, those kinds of strategies are appealing to people mostly because of survivorship bias: one hears inspiring stories from those who risked it all and made it to the top but rarely from those who loosed it all (those don’t sell too well).
That said, I think the point made by others that your non-tangible assets (education, knowledge, personal network) should be included in your capital when considering your bet size is a valid one.
Losing your apartment isn't really an absorbing state if you can still take a salaried job, re-accumulate, and then continue to make further bets.
Bringing down risk taking to a simple “risk it all” is a trivia that is maybe inspiring but naive.
What’s worse, those kinds of strategies are appealing to people mostly because of survivorship bias: one hears inspiring stories from those who risked it all and made it to the top but rarely from those who loosed it all (those don’t sell too well).