I'd like to note that usually it's a bad deal to be one of the first 1-5 employees at a startup, even if they've raised seed funding. The reason is the startup

I'd like to note that usually it's a bad deal to be one of the first 1-5 employees at a startup, even if they've raised seed funding. The reason is the startup has only been de-risked by a factor of, say, 5, yet your equity stake is lower than the founders by a factor, of say, 10 (assume two co-founders who get 40% each, and you get 4% - early employees often get less in fact); you might as well be a founder of your own company - the risk-reward profile is often better. Now, obviously if you absolutely believe in the strength of the company, this point is moot and you should join anyway. I think the best opportunities lie in companies that have already closed a Series A, which means they've picked up traction / validation, but still have a long way to grow.