Probably because some people get rich. Also, many people appropriately view the options as a lottery ticket and just like to be in a company building something new.

> Why do people fall for the "work for a startup and get rich" scam?

In all fairness, just like the phone scams, people are warned the best they can be about start-up lottery tickets.

Or the 'try to play the markets and get rich' scam?

I've seen many elderly individuals playing the markets with far too little knowledge of how they work, thinking they can win.

This is probably the best comment in the whole thread. In fact, you can't get "rich" unless you're a founder in a startup. (And no, this isn't sour grapes! I've made money in Silicon Valley, and continue to work at age 53 in a new startup.)