Or the extreme casualty rates experienced by the (mostly very young) East India Company clerks in Calcutta. From Dalrymple's The Anarchy:

"Death, from disease or excess, was a commonplace, and two-thirds of the Company servants who came out never made it back – fewer still in the Company’s army, where 25 per cent of European soldiers died each year."

Agreed, but people were often forced into those conditions. Or were forced to make an impossible survival decision.

Were Magellan’s men volunteers? For example, in the incident with The Wager, 1,980 men left on 6 ships, and only 188 survived. Men of the original men were press-ganged (kidnapped to crew these ships), and a lot of them were even taken from an infirmary and not in great health. And, of course, conditions were pretty terrible.

So yeah, we’re more risk adverse… and also a lot better at keeping people alive. I think most people would not have signed up for some of these really risky endeavors if they knew the true risk.

https://en.wikipedia.org/wiki/Wager_Mutiny

https://en.wikipedia.org/wiki/Shanghaiing

It's worth noting that Magellan lived in a time of extremely high infant and childhood mortality. Approximately 30% of newborns would die in infancy, and the odds of reaching 16 were only about 50%. This wasn't just skewed by people in poor circumstances, even the wealthy elite in society with the best access to resources and medicine of the time faced grim odds. Everyone went through their formative years with the understanding that their survival was unlikely, they watched their siblings and friends of the same age die, they were raised by parents who knew damn well that half their children likely wouldn't make it,and their society was structured around the assumption of an heir and a spare. Under such circumstances, the value of human life, and thus the reward necessary to justify risk, would logically have been much lower.

Indeed, it's rather amazing to think about just how recently things changed. The generation that first went to the moon had a much lower infant mortality rate than in the 1500s, but it was still about 20 times higher than today, and critically they were all raised by parents and lead by people who had grown up around normalized high infant mortality rates. Boomers are the first generation where infant mortality was continually below 5%, and millennials are the first generation to be raised by parents who considered their children's survival to adulthood a given. And of course that's for the developed world; global infant mortality only fell below 5% in 2010. Right now is the first time in human history that you can say with 95% confidence that a random human newborn will survive to adulthood. We should be much more risk averse than our ancestors, we are on average anteing up many more happy, healthy years than they were.

Crazy indeed, glad that someone else has already mentioned Magellan, because that’s whom I also had in mind. Not sure there’s a solution for this because at this point the risk scare has been institutionalized among most if Western (and not only) society.

You're acting like if it fails they can just say "Well we said it was 1/3!" and then just get on with it. "Oops we lost a zillion taxpayer dollars and no one will mind and maybe they'll give us more money this time around!" That's just not how the world works.