Agreed - there are loads of former banker types, or rich wives of financiers, who decide starting a startup is cool, and go try to hire an engineer for 2% equit

Agreed - there are loads of former banker types, or rich wives of financiers, who decide starting a startup is cool, and go try to hire an engineer for 2% equity and treat them poorly. Their "startups" are often some kind of online magazine where the main technical challenge is themeing Drupal.