On your question on compensation for startups vs. large companies, I understand your note as cash is definitely lower for startups. But might not be higher than large companies. On a risk-adjusted basis, I agree. If your goal is to maximize wealth creation, it’s definitely a better choice to focus on established, more liquid compensation packages found at scale. It’s like investing in index funds vs. specific stocks.

However, if you have the skills to pick and thrive at startups, given you can collect several of them in a tech career, you might hit it big a few times. These exits can be disproportionately life changing for early employees. Larger equity packages (by percentage) refers to that point.