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Although to be fair, that job 20 does offer equity in the company in lieu of monetary compensation. Maybe not what you're looking for, but still a different beast than working for free.

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There's a difference in theory. In practice it's equivalent to an unpaid internship + lottery tickets.

You can't influence the outcome of a lottery ticket (aside from picking rarely chosen number sets). You can influence company success. In practice there is still a difference.

Edit: I'm responding to the general idea of startup equity being equal to a lottery ticket. I haven't read the specific job posting in question.

Without a seat in the boardroom, you still can't influence when the board decides it would be best if you disappeared.

Well: good luck influencing company success in a company providing no compensation for jobs and looking explicitely for young people...

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