While certain estimations can be made, it is impossible to truly know if work is worth doing until after the work is already done. As such, workers have to make a choice:
1. Do the work and find out. If the work was worthwhile, they'll reap the benefits in spades. If not, they are left with the detriments.
2. Sell the work at a discount to someone else who is willing to find out.
Most workers opt for #2 because they don't care to find out. They want the guarantee and are happy to let someone else suffer the consequences when things go wrong, even if that means letting someone else indulge in the rewards when it does work out.
Employees take the most risk because they gave the fewest options in the market
The risk a PE or bank takes giving a loan isn’t the same risk a loan holder takes by collateralizing their home.