Rejection increases volatility. Or, since 'rejection' is what happens when you don't apply, you can restate it as: 'Acceptance' is a progressive tax on brilliance; no matter how plodding you are, you can probably find someone to pay you for showing up 9-to-5 -- but if you're brilliant and you want to capture even 1% of the wealth you create, you'd better accept the risk of working for yourself.
