Second this. Right after school I passed on a higher-paying job to work at a startup. It didn't do well, but I learned a whole lot about what is involved in running a startup correctly, from the perspective of a mid to late stage employee.

Forward many years, and I have my own thing going and I appreciate the failed startup experience because it gives me some framework on which to base my decisions. And I hope I'm doing things better... (and that a few years from now that junior dev we just hired will do a better job with his/her company!)