Sure, and I wasn't arguing against startups offering options. Just against startups valuing them over cash, and expecting employees to do the same. Really, I'

Sure, and I wasn't arguing against startups offering options. Just against startups valuing them over cash, and expecting employees to do the same. Really, I'd say the whole thing is a red herring; either way you're working. Your time is being used. So the question is do you want to trade that time for a guaranteed amount of money, or a -possible- amount of money (but, high risk). The only way taking the options makes sense is if the salary is -still- high enough to not get in the way of what you want to do, and you could walk away having netted zero from your options and not feel cheated.