Thanks for the msg. Yes, I do have a family, home loan etc to pay for every month. So, it will be tough if they miss a salary. I will have to dig into my savings. They don't have any bonus or other benefits. And i need to travel more for this.

I think I can wear multiple hats. That should not be an issue.

hmm... i will have to think more on this.

The fact is I am not happy with my current job.

So, stay in your current job, set aside the 25% of your income you'd be losing by going to this startup, build up your savings, and find a company willing to hire you at or above your current salary.

Don't subsidize a startup by taking a pay cut, and especially don't do it by digging into your savings, unless you're going to be one of the founders and get a larger equity grant to begin with.

Don't take a paycut for any reason. And options are worthless.

Also, you said the startup won't provide benefits. Do you have other means of healthcare / health insurance? If not, then regardless of compensation, the lack of health benefits would be a very extreme risk to take on for yourself and your family.

If you want to pick up new technologies, inform your family that you will be parked at the kitchen table every Saturday for the next 4 months teaching yourself Python, web developemnt, containerization, whatever (what to learn is a separate discussion). Libraries, internet: learning is free! No need to take a paycut for that.

You could always become a cobol consultant. Otherwise if you are dead set on a startup then see if you can keep your current job on the side as a consultant.