"work for" != "full time salaried employee"
without any critics, just wondering.
College students don't have these overheads, but they don't have experience either - so coding for next to nothing is a good exchange for experience and resume padding.
However, if you're an experienced developer and you work for nothing without a huge chunk of equity or ownership in the business then you're a fool. Look up some of the job offers on Craigslist - you'll be very much in demand.