Justin Kan has a great post that is equally critical of startup compensation and management. He also makes positive points in favor of startups: as opportunities for non-FAANG candidates, for learning faster and (to some people) as a gateway to starting your own company.

https://www.atrium.co/blog/work-at-a-startup/

In line with Justin's post, learning has been a key motivating factor throughout my career. In particular, working at startups has given me better insight to the business that drives the company. I've sat on calls with sales people to understand customer asks vs. needs, and I've developed strategy alongside BD teams for driving adoption of technical platforms. For engineers who are interested in learning more about other functions/roles at a company (product, business development, sales), startups are sometimes flatter and can offer more exposure.

(That said, you can also get non-eng exposure/experience in larger companies. You may have to take a non-traditional eng role, such as sales engineering, partner engineering or developer advocacy. There are some perceived downsides of that path -- sometimes around compensation or building your core "engineering skill set" -- but it's a viable option.)