Financial markets are filled with millions of anonymous people investing trillions of anonymous dollars. These investors contribute money and nothing else, so they have nothing to lose except money. Although losing money is painful, being an anonymous investor isn’t very scary. There’s financial risk, but no emotional risk.

Emotional risk is a singer-songwriter getting on stage and belting out her music to a crowd that may or may not like it. Emotional risk is taking public responsibility for something that might fail. It’s doing something that could get you laughed at. It’s firing someone you like who isn’t good enough at his job. It’s hiring someone who’s more talented than you are. All the important and rewarding stuff in life involves emotional risk.

There’s an endless line of anonymous investors chasing away outsized returns from any financial risk opportunity that becomes visible. There are not many people willing to take emotional risk to do new, controversial, conspicuous, scary things. Taking emotional risk goes against human nature, and that makes it rare, and that makes it valuable, and that makes it rewarding. The crazy thing is, taking emotional risk doesn’t cost anything. It’s just a choice anyone can make.

Personal P.S.: My job as a leader involves a lot of emotional risk, or what feels like a lot to me. As owner and CEO the buck stops with me, for everything my companies do. I am in no way immune to the instincts that push us all toward perceived safety. I feel the fear, often intensely. When I overcome it, it’s because I want a life that matters, even more than I want a life that feels safe and comfortable. I fantasize about having both, but I don’t think that exists in the real world. Here’s to everyone who lays more than money on the line.