Actually, my conclusion is that because of the information asymmetry, and the fact that for most opportunities the equity is not worth getting out of bed over,

Actually, my conclusion is that because of the information asymmetry, and the fact that for most opportunities the equity is not worth getting out of bed over, I choose to focus on the cash. But please don't mistake that for me saying companies should just pay cash. While that would be great, I think there is definitely value in offering equity, particularly for early stage companies that may not have the revenue to actually offer a fully competitive salary. The thing that needs to change is how prospective employees are educated about this so they can make fair and informed decisions as to their risk tolerance.