Comment by hn_throwaway_99

I think your point about employees is especially true, particularly since the large tech companies pay disproportionately so much more. If you are a senior-level software engineer, even if the startup is successful in the "unicorn" range, for most people that means an equity payout on the couple hundred K to the $1 million range for all but the very largest successes. Not bad at all, but when the FAANGS are already paying in the 250-500k range, going to a startup is you are not an exec or founder is almost always a poor financial decision. And remember, the vast majority of startups still fail outright.