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Speaking as someone who has worked with enterpreneurial companies for his entire working life, risk != reward. That's a really simplistic and useless analysis. Companies spend much of their time managing risk, either reducing it, or quantifying it, so they know exactly what the down side of any given action is. There are many many actions which have no correlating reward for the risk. Enterpreneurs, just like anyone else, commonly refer to those actions as stupid.

Even then, the ability to decide what is stupid and isn't doesn't often have a positive correlation with success any stronger than the correlation with not-failing. It takes much more than risk to garner a reward.

(By which I am not knocking Michae; the analysis is probably right. It's a good description of a stupid mode of thought.)

Kornblut, of course, used to cover Bush for the Boston Globe (used to be a subscriber but cancelled recently). I remember once she covered a Bush press conference at which he kept saying "malfeance" instead of "malfeasance." Her report corrected the Bush pronunciation. I wrote her an email and she blamed it on her editors. Anyway, she's got new editors now. Can she still use them as her excuse?

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