It's a personal relationship with the people, not with the company. You feel a personal connection with the founders, with the other early employees. You're passionate about the product. You want to build something amazing, and make more money out of it than you put in, and maybe change the world doing so.
Your CEO probably cares about you. It probably kills him when the company is running out of money and he has to let you go. But the company doesn't "care." It shows no loyalty to you, and you should feel no loyalty to it. That doesn't mean you can't work for a company and love the work, but it does mean you shouldn't get wrapped up in it to the point where you lose sight of your own interests.
My point was that when the company is the founders, it's not really possible to separate loyalty to the founders and loyalty to the company. At that point, it's very possible that the founders/company will act out of loyalty to you rather than purely out of self-interest, at least until their ability to do so runs out.
And I disagree vehemently that one should feel no loyalty to their startup. I know of at least one startup that has run out of money without sacking their employees, and the employees agreed to waive their pay until the startup was able to get its cashflow going again. Had they all immediately bailed as you seem to imply they should have, that startup would be dead now. Instead, I believe its current valuation is around a billion.
I would hope my employees would do the same for me.
Your CEO probably cares about you. It probably kills him when the company is running out of money and he has to let you go. But the company doesn't "care." It shows no loyalty to you, and you should feel no loyalty to it. That doesn't mean you can't work for a company and love the work, but it does mean you shouldn't get wrapped up in it to the point where you lose sight of your own interests.
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