Another way to think of it is the value you get paid as an employee, should reflect how much the labour market values you. I don't think it's fair to say it's unavoidably exploitative.
For every Ryan (OP) who started their own project and succeeded, there are many more who failed (or gave up too early) and lost money they would have earned if they worked for an employer.
Risk always have a premium, so taking risk (starting your own thing) will have a higher expected payoff; at the cost of more variance (risk).
Totally agree. It was a relatively simplistic way to think about employment. It also ignores all the downsides and stress that come from self employment. But there’s also many mental benefits around the agency you feel: not feeling like a cog in a wheel working towards unclear goals, being able to see the fruits of your labor, etc.
For every Ryan (OP) who started their own project and succeeded, there are many more who failed (or gave up too early) and lost money they would have earned if they worked for an employer.
Risk always have a premium, so taking risk (starting your own thing) will have a higher expected payoff; at the cost of more variance (risk).