"They" have convinced him already. Optimal Kelly criterion is gone, we are now at 1/4 Kelly (0,25% max bet instead of 1%).
I am working on a change to allow investors to decide for themselves how much to risk.
Optimal Kelly isn't "gone", it's just resting.
Okay, but you yourself explained that allowing people to choose their risk would just make the "coward" investors parasitic to the "hero" investors. I agreed with that analysis.