It's a horrible idea, it hugely undervalues ordinary people's time and effort, it takes absolutely no account of the fact the people involved need not promises of jam tomorrow but wages, now, to pay things like rent, and it reinforces the unpleasant tendency of jobs in quite a lot of sectors to be monopolised by rich kids who can live off the Bank of Mum & Dad while working for free in order to make a start.
Also, given that some huge percentage of startups crash and burn, what happens to my wages? It's an awful idea and it's advertising on the list.
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