Evaluating high-risk CTO startup role from academia

An academic has been offered a CTO role in a very small startup, indicating a significant career opportunity with high potential rewards but also high risk. This transition offers the chance to gain high-level leadership experience, potentially significant equity, and direct impact on product development and company strategy. The user should carefully evaluate the startup's funding, team, product viability, and their own risk tolerance. The opportunity is substantial if the startup succeeds, but carries the inherent volatility of early-stage ventures.