Also, even if you trust the startup's current management and investors... a lot of those virtuous promises aren't enforceable in bankruptcy, and they may be in

Also, even if you trust the startup's current management and investors... a lot of those virtuous promises aren't enforceable in bankruptcy, and they may be in some legal jeopardy if they safely dispose of those "assets" before they are liquidated into the hands of someone without scruples.