What's "valid" isn't a matter of immutable natural law. Clearly there are some contributors to startups---founders and early investors---who demand and get low-probability, high-reward financial bets that can, albeit probably won't, pay off big. Whether that bet is available to others, and to what extent, is a matter of choice.
If you've got something valuable to offer, and want founder-like exposure to risk and reward, negotiate a founder-like equity package. If they won't give it to you, it's not because they're a startup. It's because they're unwilling to give it to you. Perhaps they don't think you're worth it. Perhaps they just don't want to share the pie like that.
If you've got something valuable to offer, and want founder-like exposure to risk and reward, negotiate a founder-like equity package. If they won't give it to you, it's not because they're a startup. It's because they're unwilling to give it to you. Perhaps they don't think you're worth it. Perhaps they just don't want to share the pie like that.