If you join a good startup that has an actual product and real exit plan, sure.

And by actual exit plan I mean an IPO, or a multi billion dollar acquisition if that doesn’t work out.

I worked at a unicorn once and it worked out well. Most of the employees who joined pre to just around unicorn status walked away with 8-25x or more return.

You go to big tech for double the salary (compared to startups), not stability.

I think job stability/security for the individual is highly dependent on the company rather than the size. Microsoft, Amazon, and Google have had a history of laying off employees during downturns, while Apple has generally been better about avoiding this (this most recent economic downturn has been the first time Apple has done large layoffs in quite a long time IIRC).

Layoffs are always possible no matter the company, so it's good to be prepared financially for that, however, you can look at a company's history to determine how you should react when the economy starts going down.

For example, I grew up during the 2008 financial crisis. I frequently heard my friends' parents getting laid off from the big tech companies. Years later as I've reflected on this, I came to the realization that if I ever get into a big tech company like Amazon, Microsoft, or Google, that I either need to make it to a position where I'm confident I won't be axed, or get out before I do. And even if I'm confident that I won't get the boot, I should still plan for the possibility of that happening.