Good point. Cash flow is king. I was trying to keep it simple. The fact that nowadays it's easier than ever to build a profitable small company in high-tech is another reason to go to startups.
Very true. Tons of change in a startup always and as a startup grows, it often requires different approaches to working as well as different types of work and, therefore, different people.
Right, that's the key question. I am writing the article on how to evaluate startups tomorrow. I'll put it in HN. If you don't want to miss the link, follow me at @simeons.
I've co-founded companies in Boston, NYC and SF and I've also worked at large software companies. I've seen quite a bit of appreciation of startup talent in all cases.