The highest performing, most expensive employees are going to be pretty senior and pretty experienced, ie older - the demographic least inclined to bet the farm on equity in a startup.
They’re likely to be at the stage of their life where their “runway” is their kids’ college tuition, or their (possibly early) retirement plan. Most will be far more inclined to take a (stable) pay cut rather than make a risky bet.
Plus, this whole downturn is rooted in drying up credit. Startups are more likely to fold than ever, and will largely have to either slow hiring or reduce non-equity compensation.
I think there is another point of view to this. Once you hit the 5-10M NW range as employee, you're basically free to take risky bets on start ups. You're looking for something that will be game changing (10M+) rather than another 500K in the bank.
You've got college, housing etc. covered, so it's fine to go take risks in order to get large lottery tickets.
They’re likely to be at the stage of their life where their “runway” is their kids’ college tuition, or their (possibly early) retirement plan. Most will be far more inclined to take a (stable) pay cut rather than make a risky bet.
Plus, this whole downturn is rooted in drying up credit. Startups are more likely to fold than ever, and will largely have to either slow hiring or reduce non-equity compensation.