Good thinking. Like anything in NYC, startups tend to get overhyped and there's a lot of dumb money from rich kids or people who had a good run at finance etc. I wouldn't work for below market wage in this kind of economy.

When the bubble pops, you can use your savings and take advantage of the lower costs (and the fact you might not have a job anyway..) to start your own thing.

(Edit: I guess the downmodding means I need to add some disclaimers here... There are also smart rich kids and ex-bankers. Sometimes working for under-market wage does make sense, eg. if you're trying to break in to a new field. Some things are not overhyped in NYC. Your dreams may vary from those of Globex Corporation, its subsidiaries and shareholders)