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RE: That Fake Exuberance Over New Projects you have NO Experience With!
I have always been a risk taker. By the time a project is "proven" to the level you seem to be comfortable with, any opportunity to make large gains is largely over.
But that being said, I am more of a risk taker just for myself, and seldom try to convince others to take a risk. Rather than asking friends to invest in an early stage project, I will just give them a little share in the project and say: "hang on to this and see if anything happens."
The few times where I did recommend investing in something to friends, and it bombed, I was mortified - and just don't do it anymore.
I have made, and lost, fortunes :-)
And I think you touch on something really important there. I am not quite as risk averse if I know that the outcome of something I am involved with impacts only myself... and doesn't make me feel beholden to other people's expectations, hopes and dreams.
I tend to almost never "recommend" anything to others for the simple reason that I don't like the idea that someone else's (potentially unrealistic) expectations try to come home and roost with me.
So I think we're pretty close to on the same page.