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No, the days of 40 years at the same company, where the company shows you as much loyalty as you do it, are no longer in fashion. Yes, working at a startup is typically more fun, sometimes more stressful, often more rewarding, than working at a more established, bigger company. No, working at a startup (nor any small business for that matter) is nowhere near as secure, particularly in these economic times, as a fulltime role with an established company. No job is guaranteed, but there is definitely variability in security, and expectations thereof. Working on infrastructure/enterprise type software that drives a corporation with double or triple digit million revenue is going to be more secure than working on the hottest new, but not yet profitable, web toy startup.
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Andrew, I don't really disagree with anything you've said. I'm not claiming one job is more stable than the other. The point is, people have options, and when I say people, I don't even think you're the target here. I laid out why I like my job now because I don't have a house / kids / car or really anything to my name to worry about. Ask me the same question in three years and you'll get a different response. Of course, at that point, the blog might have to be called "Venture" and not "Enter Venture"...