As I understand it, no stock though. There is no potential that you would, via Hey, be able to cash out. (And frankly, I can't see the technical or user appeal of Hey, it seems very bleh. I'd rather work on Signal any day.)

Why would you want stock in a company that has no intention of being sold? Especially when they're making up the difference in cold hard cash that you can use to buy whatever other rocketship you think is out there.

If you're looking to cash in on a unicorn, you are almost always better off working somewhere else that will pay you the most in cash and using that cash to make your unicorn bets.

Well exactly. No IPO, no buyout on the horizon. Stocks would be a less valuable compensation than cash.

But the allure of partaking in massive success in a revolutionary startup is pretty significant. Less so if you have a steady salary perhaps, but I wouldn't be surprised to see a few of these people use the safety net of savings and a solid technical rep to try some riskier innovation.

I really can't believe I'm explaining startup allure on HN.

I think I made it clear that's a trap that mostly suckers fall into.

You can still partake in the massive success of revolutionary startups with your cash. In fact, you're in a much better position to, because if you're making a lot of cash, odds are you are senior and connected in your field. You have better odds of picking winners and investing in them.

There's also opportunity to buy pre-IPO shares.

How would you buy pre-IPO without options?

Equity exists pre-IPO and people/companies sell it. There's even gray markets for trading it.

Being a qualified investor (which you can get to from zero in as little as 4-5 years if you're making FAANG cash) helps a lot.