Earlier quoted context omitted.
Being employee #1 is fine, but you should be asking questions like 'how much money do you have?' and 'when will it run out?' I've been employee #1 and in the position of having to find another gig due to the company running out of money. It sucked, but I was prepared for it since I knew what our runway was and what our situation with funding was.
You might be employee #20 - they can still lie to you and tell you everything's fine, then run out of money in a matter of weeks.
Hey, may as well be an entrepreneur!