Felix conveniently assumes a startup has a binary outcome: Immense riches or ignominious failure. In reality, there's a spectrum. I know a lot of people who sold their company for $1 million to $10 million. Depending on how the cap tables work, this is usually not life-changing money but enough to average out to a really decent salary for 1-5 years of work, plus a job at a good company at the end of the ride.
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Felix conveniently assumes a startup has a binary outcome: Immense riches or ignominious failure. In reality, there's a spectrum. I know a lot of people who sold their company for $1 million to $10 million. Depending on how the cap tables work, this is usually not life-changing money but enough to average out to a really decent salary for 1-5 years of work, plus a job at a good company at the end of the ride.