This, exactly. In this bubble, if you are joining a funded startup you should not take a below market salary, period. If the bubble bursts, your equity won't m

This, exactly. In this bubble, if you are joining a funded startup you should not take a below market salary, period. If the bubble bursts, your equity won't matter anyway. If you are taking a salary cut because you are joining a pre-funded or seed stage company, you better be getting near founder level equity.