Sure, it's as fallible as any blanket generalisation. But there are extra risks you take when young men are involved, and a lot of those risks are statistically quantifiable.
There's a reason they pay more (a lot more) for car insurance, and it's not because risk assessors are playing the age card. It's because young men are more risky.
(Of course, this also means they're much more likely to take the big risks required for entrepreneurship -- a tendency to risk-taking is not an unqualified bad. I think it's an essential quality. I just don't want to fly in planes flown by 19-year-olds, and I don't want them in my mail spool.)