In the absence of a salary, they are not concerned with receiving a fair substitute for salary. They are concerned with the other issues.
That's because "working for equity" is exactly the same as "working for free". Equity has no value until the company has proven itself. If you were working for a company that said that you have a 95% chance of not getting your salary, and a 5% chance of getting your salary 2 years later, you would consider that working for free.
If you accept the idea of working for free (which many of us founders do), then it's the other things that matter.
That's because "working for equity" is exactly the same as "working for free". Equity has no value until the company has proven itself. If you were working for a company that said that you have a 95% chance of not getting your salary, and a 5% chance of getting your salary 2 years later, you would consider that working for free.
If you accept the idea of working for free (which many of us founders do), then it's the other things that matter.