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I'm an entrepreneur. Why'd I become one? Simply because I though I could earn more and achieve higher status through entrepreneurship than wage slavery. I wasn't rejected by the system (I had a good job). Most great entrepreneurs have good jobs (Bezos at DE Shaw is an example).
Akerlofs market for lemons is a great and interesting paper and while this paper is certainly better than average, it's very typical of economists to what to explain entrepreneurship through some quasi-proof of other economic theory.
Like I said, all you need is to think that entrepreneurship will give you better outcomes in the long run than working for someone else. Then you need some balls and then you go.
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