Comment by icedchai
Having joined as a founding engineer, recruited the team, built early product, presented demos and decks to investors, etc. you are correct. Unfortunately, the company failed and everyone's equity was worthless. The company was acquired in a fire sale for pennies on the dollar.
It was still fun though. And I'm still proud of what we built.
Actually you raise a great point. My answer might have focused too much on the monetary side. I agree 100% that if it's a chance to work on something you'll be proud of with people you enjoy working with then it can be worth it!