I don't understand why young engineers would do 996/007 work schedules for just 5% equity that gets diluted as soon as new funding round or an acquisition comes around. Look at the recent acquisitions of AI coding tools these "deals" should serve as a cautionary tale for anyone grinding away for someone else's benefit rather than their own.
3. Gets you in the entrepreneurship game. Out of the big tech trap. My first startup did not do well but a ton of us ended up starting companies, entering VC, etc.