I think the biggest problem with being a non-founder in a startup is that in 2018 that doesn't make you a key employee anymore. This leads to a bunch of problems, like worthless equity, relatively low pay, poor benefits, etc, but it essentially originates from a change in the business model.
In the older days when startups were aiming to be profitable by solving a new problem in a way that would attract paying customers, while competing in terms of efficiency, the contribution of an early employee to the bottom line was more noticeable, so the startups had to treat them better.
As of 2018, most startups aren't trying to solve a profit-generating problem that couldn't be solved with the tech from 5 years ago, but can be reliably solved now. Instead the VCs expect to get paid through an acquisition/IPO when either a BigCo, or the public buys into the hockey stick growth without scrutinizing the sustainability of the underlying business model (or being confident that the founder will find a way to pivot). So instead of being a cog in a BigCo machine, you are an extra in a VC-funded movie. And I don't think it's going to change without a major correction in the general public's expectations from tech.
In the older days when startups were aiming to be profitable by solving a new problem in a way that would attract paying customers, while competing in terms of efficiency, the contribution of an early employee to the bottom line was more noticeable, so the startups had to treat them better.
As of 2018, most startups aren't trying to solve a profit-generating problem that couldn't be solved with the tech from 5 years ago, but can be reliably solved now. Instead the VCs expect to get paid through an acquisition/IPO when either a BigCo, or the public buys into the hockey stick growth without scrutinizing the sustainability of the underlying business model (or being confident that the founder will find a way to pivot). So instead of being a cog in a BigCo machine, you are an extra in a VC-funded movie. And I don't think it's going to change without a major correction in the general public's expectations from tech.