I've posted this in many threads about startups. I have worked at 2 and had bad experiences at both.

Why didn't I get any money from my startup? - A guide to Liquidation Preferences and Cap Table

https://old.reddit.com/r/startups/comments/a8f6xz/why_didnt_...

I have told people that before they join a startup ask about the liquidation preferences and cap table. If the ownership doesn't tell you then consider that a red flag.

I would add this new Groq scenario to the list of questions to ask. "Can you and the executive team go to another company with the IP leaving the employees behind with stock worth $0?" Maybe phrase it better than that but I know a few former coworkers at Groq. I didn't know them well but this probably stinks for them.