With the current market is joining pre-ipo companies even riskier ?

we might be entering challenging time for the private market :
1- has we are seeing a pretty significant correction on the public market. Many analyst seem to imply that this trickle down in the private market with significant down round (decreasing valuation).
2 - general decrease in liquidity put more pressure on startup to be profitable faster.

How do you guys think about pre-ipo companies are an employee right now ? Is it simply too risky these days ?