WHAT STAGE STARTUP OFFERS THE BEST RISK-REWARD TRADEOFF?

Summary from the TLDR newsletter

Joining a startup can be exciting as you can see your work make a real direct impact and you can grow in ways that you aren't able to in other companies. The biggest reason people join startups is for the potential reward if the startup makes a successful exit. The earlier you join, the bigger your reward - joining too early increases the risk you end up with nothing, and joining too late may mean a significantly smaller payout. This article looks at this issue and discusses the optimal trade-off between risk and reward.