It's true that non-founder equity has a trivial chance of becoming life-changing money. But working at a fast-growing company has benefits. For inexperienced by ambitious people, the work-to-employee ratio makes it possible to take on projects that would normally go to someone more senior, prove your talent, learn quickly, and earn further options grants as a bonus. Even if you never get a windfall from that company, when you leave you'll have skipped a few years in job growth and be able to enter the next company in a better position.
To make a lot of money joining a startup, you probably have to be better at evaluating startups than VCs are, which is pretty difficult. Luckily, picking a startup where you can develop your skills, work with smart people, and have a lot of fun is easier than that. But it's still not automatic--you need to evaluate the founders and other employees to find out if you'll fit.
Comments
It's true that non-founder equity has a trivial chance of becoming life-changing money. But working at a fast-growing company has benefits. For inexperienced by ambitious people, the work-to-employee ratio makes it possible to take on projects that would normally go to someone more senior, prove your talent, learn quickly, and earn further options grants as a bonus. Even if you never get a windfall from that company, when you leave you'll have skipped a few years in job growth and be able to enter the next company in a better position.
To make a lot of money joining a startup, you probably have to be better at evaluating startups than VCs are, which is pretty difficult. Luckily, picking a startup where you can develop your skills, work with smart people, and have a lot of fun is easier than that. But it's still not automatic--you need to evaluate the founders and other employees to find out if you'll fit.