>On our last team Vegas trip I kept track of how much everyone was gambling as a proxy for their risk appetite
Yikes. Gambling is just a dumb idea in general (it is literally designed to make you lose money)... unless you are gambling with other's money. ;)
There is a diff between "With enough work, this risky thing could work out" and "With enough luck, this risky thing could work out if I stop while I am ahead"
Or, a thrilling and potentially expensive form of entertainment. I don't feel it's dumb when I lose $200 at the blackjack table when I'm in Vegas for a bachelor party.
Statistical events tend to be lumpy. If you've ever experienced firsthand the act of winning a reasonable amount of money gambling, you'll realize the draw is more than trying to just beat the system.
Yikes. Gambling is just a dumb idea in general (it is literally designed to make you lose money)... unless you are gambling with other's money. ;)
There is a diff between "With enough work, this risky thing could work out" and "With enough luck, this risky thing could work out if I stop while I am ahead"