[richcollins]

Author missed option 3:

Do contract work at $250 an hour or equivalent compensation in shares at >= series B funded startups. Choose the level of risk you're willing to accept in cash vs equity. (Nearly) completely avoid politics and other office related BS. Take vacation between gigs if you like. Get a very broad variety of experiences at different companies and get a good feeling for what companies are willing to pay for should you decide to start your own.