In addition to your visa sponsoring job, can you work for a pre IPO startup on the side with only equity compensation? It's basically like a side project, I guess. But if we get funding in the future, I would like to sell the equity for actual money. Is this legal?
No you can’t. You will need a 2nd H1 with the pre-ipo company then it’s ok.
No. And I will personally report you to immigration if you do.
If you are compensated in non monetary way (stock) you are still considered working. Note, that not only you need to have second I-797, but pay taxes on monetary value of stocks you receive
Legally? I don’t know. Realistically? No one would ever know or care.
Startup shall check for employment eligibility ;)
Not true. During AOS they might check tax reports
Get a concurrent H1B
Didn’t you asked same question few days ago