[buug] Pre-IPO companies

[Bill Honeycutt]

I know many BUUG'ers have had experiences with IPO's and pre-IPO's.  I'm 
looking for your input regarding the good, the bad and the ugly side of 
working for them (or choosing which ones you might work for).

If you are being courted to take a position with a startup company:

  - What are the good/bad things to look for?
  - What are the best questions to ask?
  - What percentage earn payback for everyone -vs- making you broke?
  - Where's the "IPO Employee Hazards FAQ"?
  - How long should you make the barge pole when getting close? : )

I'm sure this could draw out some grusome war stories.  IMHO, we're not 
so far away from a day when seed money begins to creep out of hiding and 
techies will again be invited to become grist for the mill.

TIA!