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Kutta comments on Biking Beyond Madness (link) - Less Wrong
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There is quite the chance he'll drop dead, so I personally think his method is irrational under the vast majority of circumstances. In the case that winning an endurance bike race saves one million lives this strategy is not that bad, however.
That's a value judgement. He appears to think the risks he places himelf in when he's not in control are an acceptable price for the utility he derives from his bicycling.