Entirely accurate. At a startup, I expect to make ~$100k/year, have mediocre insurance and work life balance, and underwhelming equity (<1%). At my enterprise job (southeast US), I’m making double the salary, 20% annual bonus, five weeks/vacation a year, great work life balance, and much better health insurance for a family of four than any startup can offer.

Unless you’re a founder, I actively steer colleagues away from working at a startup. The sense of accomplishment, impact, or whatever the feel good term is, isn’t worth shorting yourself on significant comp for years (while founders and funds are getting almost all the upside).

Edit: If you want to compete, pay more and provide more equity with less risk. Throw “hire fast, fire fast” out the door; anyone who isn’t single and in their 20s can’t rely on a job like that. Maybe consider giving preferred shares to early employees as well, so they share in early liquidity events during pre-IPO/acquisition offerings.