Agreed, there's a serious risk vs reward problem of founders vs first employees. I see founding as an exciting option, equity, control, low/no pay before revenue or funding.

First employees face a different risk, starting with a competitive but subpar salary with very small equity and little stability (get fired and your vested equity goes away), and they work long hours like founders.

If you found, you have to find a way to make it worth the risk to early employees. Many founders go the route of hiring first employees out of school where their options are slimmer.