I never got into this situation, but heard people got options but they became underwater after IPO (e.g. Dropbox). There are several hot startups that had a lot

I never got into this situation, but heard people got options but they became underwater after IPO (e.g. Dropbox). There are several hot startups that had a lot of hype, but turned out just so so. I work for a VC funded startup now, but I feel there have been huge dilution, so I started asking if it is worth it. There is poor work life balance and liquidity risk. At the end, if a company goes IPO, I don't expect to make too much money. Why not get a job at a big company and enjoy life.