- Lead engineer works 100 hour weeks to keep the company running for a below-market salary and 0.05% equity while the founders and product/sales leads constantly sell shares on the secondary market, buy fancy toys and travel the world.
- Technical cofounder gets a 3% equity because the "business guy" came up with the idea and deserves the other 97%.
- Early engineers are offered seemingly good equity but end up with lower class shares that are first to be diluted away, and an exit below some magic number thought up by founders/VCs earns them nothing because preferred shares get first dibs.
The startup game is probably not right for you as a software engineer if you don't have a "type A" personality and aren't willing to have uncomfortable conversations and fight to get your fair share. Otherwise you are just a resource to be exploited.