I had an interview with a YC company. They were going to bring me on board with a low salary, lots of equity, and a seven day work week, with what seemed to be 8-10 hours a day. But hey, they have a cool office and free food!
While I realize that the plural of anecdote isn't data, this is pretty much my point exactly. The venture capitalists take a large position for a small amount of money... minimizing the risk and maximizing their potential profit. the founders try to play a similar game with their highly skilled employees. Welcome to capitalism.