[amorphid]

Ask yourself why you'd take this opportunity. What do you hope to get out of it? If you can't find other work it sounds like a great deal. If you are hoping to get equity later and you'd be willing to risk it, maybe it is a good deal. If you need experience you'll get, that is worth something. If this is just about money, that sounds weak to me.

[throwaway69]

Thanks for this measured response. I am not really looking for work, I am looking to work at an interesting problem with smart people and the experience of a startup.