I think it's true if you add the caveat "only avenue for an average person". Not everyone gets the big liquidity event in the startup game, but also very few people actually get multimillion dollar comp packages at well established post-IPO companies despite how much it seems to get discussed here.
The startups that succeed do not generally have average early employees. Remember that founding a startup and successfully taking it to a large exit is a decidedly non-average outcome; the average startup fails miserably.
I think that if you're seeking non-average wealth you should first strive to be non-average. There are a number of pathways to exceptional wealth, but all of them require being exceptional in some way.
Eh, I've been an early employee at several startups with successful exists. Each one had average early employees where the only thing they did that was truly exceptional was believe/commit in the cause early and stick it out. They helped the company get from point A to point B when others wouldn't. And they got great outcomes when liquidity arrived.
Being non-average definitely has better results, of course. But if you aren't, I do think there are still pathways for you at startups, while there generally speaking aren't at FAANG level companies.
