I wasn't referring to the wage market, I was referring to the market for developer tools.
However, VCs do deviously manipulate the wage market in early startups by pumping a false narrative about how it takes young (read: naive, as these are virtual synonyms) people to innovate, and how when the company gets really super duper big, the equity will make up for the crappy salary. This trick is used to get young people to accept an apartment split with 6 other "founders" and some ramen, or in the case of early employees, a salary 40%-60% below market, in exchange for a pull on the VC slot machine.
I think the commenter two above was able to flesh out the meaning of your original comment for me. I do agree with you on the wage market though as well. I was thinking about this the the last time(recently) a recruiter was pitching the whole "equity in place of cash comp" to me.
If you figure a 1 year cliff and then 25 percent a year vesting schedule. You are into the startup for 5 years to be fully vested. How many of those can you do in a career? How many companies continue to be awesome enough to stay for 5 years? How many of those will actually IPO? The odds don't seem that great.
However, VCs do deviously manipulate the wage market in early startups by pumping a false narrative about how it takes young (read: naive, as these are virtual synonyms) people to innovate, and how when the company gets really super duper big, the equity will make up for the crappy salary. This trick is used to get young people to accept an apartment split with 6 other "founders" and some ramen, or in the case of early employees, a salary 40%-60% below market, in exchange for a pull on the VC slot machine.