There are many issues with getting equity when you are not investing money: 1) rounds of investments will dilute your shares 2) you have no control over the co

There are many issues with getting equity when you are not investing money: 1) rounds of investments will dilute your shares 2) you have no control over the company and are now in the precarious position where the situation could get really bad, but you don't want to leave because you don't want to lose your shares (I've been there) 3) If the company is overvalued at some point, takes an investment, and then sells for less than that value, the investors will get paid back first (further reducing your chances at getting a payout). Is it snake oil? Not necessarily, but it's a huge risk and you shouldn't think of it as your path to riches.