Maybe a good way to incentivize more risky entrepreneurs is to provide a better safety net. I would, however, caution against making it too perfect (and I hate myself for saying that, because I would prefer people worked on whatever brings them happiness, not money) - part of the drive for Americans (and the reason they risk so much on it) is the need to accumulate as much capital as possible as soon as possible, because they know they won't enjoy any sort of safety net when they grow old.
Let me rephrase — in the UK we have a generous and expanding safety net, for the elderly, voted for by the elderly, and paid for at great expense by the working population.
Maybe there are talking about the "triple lock" in the UK. The triple lock mean the pensions will rise to ether match the rate of inflation, average earnings or 2.%, whichever is the highest so eventually it will be unsustainable.
