Thank you for your advice. I am indeed an at-will employee and agree it gives my employer considerable latitude to terminate employment. I am most interested in

Thank you for your advice. I am indeed an at-will employee and agree it gives my employer considerable latitude to terminate employment. I am most interested in whether this is a type of outcome which actually occurs in the industry, since that would radically change my assessment of startup compensation. I would basically never work for one again, since my opportunity cost is considerable, and I have no control over getting stiffed in the unlikely event I work at a successful company.