It is. That is the whole thing where American setup is supposed to be better then European - you can fail, fail again and then again with little punishnent or consequence. And it is not like European consequences were grave, you are just less likely yo get another investment once you failed.

Frankly, too many people like to talk about risk taking in fairly low risk situations.

When you look at capital and risk, the risk are not that large. And economic policy favorwed capital over labor literally for decades on top of it.