Since you are working for Greylock, which is a VC, your are directly vested into clueless/naive programmers accepting below market offers, working long hours for a false promise. It is usually the VCs and founders that make the most out of a startup. Hence your advice is misleading at best.

Also, as an engineer I'd like to see this cycle stop. It creates an exploitative environment akin to some of the bad stories you hear in the gaming industry, where young engineers are often taken advantage and burnt out the industry.