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The conceptualization of opportunities at the core of the research field of entrepreneurship has led to a growing stream of interesting work. This essay seeks to build on that scholarship and focus the conversation on the downside of opportunities. Focusing on the downside puts the person back in the person-opportunity nexus, puts the nexus into the stream of literature on occupational choice and shows how effectual logic may be applied to the occupational choice problem, especially in dealing with findings from prospect theory on loss aversion in human behavior.