You can short without tail risk, e.g. buying puts.
Buying puts is more about longing volatility.
https://www.optionseducation.org/strategies/all-strategies/s...
This is not quite all the way there, but close enough. Basically, you do something analogous to 1 = 1/2 + 1/4 + 1/8 + ...
With a put, you primarily pay for directionality with hedged upside risk: you don't lose your house if the stock moons. While it's true volatility is a component, that's a side effect of the hedging since your counter party takes on volatility risk.