[Off topic] That is some throwaway account with 60k+ karma and almost 7 years in age.
A "proper" startup does indeed include an exit as that's the point where they give a return on investment to their VC's. That is the startup game, use the VC money to accelerate growth, then exit/go public.
Not saying I like it, but once you take the VC money that is the game you play.
Regarding startups, I just did google "define: startup" and in the dictionary definition there has no VC and no exit.
Once you take VC money, like Figma did, your goal is a lucrative exit.
It's high risk, high reward. It's a different way to build a company, and it's not really possible to change that once you take that route.
Doesn't mean you have to do this. I am all for building steady profitable private companies that aim for the long run, I think it's a great way to build great companies, but then you should stay far away from VC money, take a lot less risk, have different compensation strategies etc etc.
for everyone
> , high reward.
for the owners, solely.
For everyone else, notably generally those that actually produced the thing of value, the reward is that if you're VERY VERY LUCKY, you get to keep your job.