I halved my salary and worked in startups for quite a few years, some things were fantastic. For example, bootstrapping a bank from scratch. I left all that chaos for an established large firm and it totally sucked the life out of me.
The chances of getting a million dollar a year income, in stock or salary in a new startup is next to nil. It is like being a muso and saying you want to be a rock star or actor.
I worked for 4 startups over 9 years. Three are gone completely and the one that may be successful has diluted my equity so much it is now near worthless. Basically I will never get the salary cut I took back, ever.