My first 'real' job was at a startup that ended up failing. It kind of sucked, and I sometimes think if there maybe was something I could have done. But you are right that the skills you learn there make you employable no matter what - After the failed startup I immediatly started getting job offers!
Ha, I've already been getting job offers and requests for interviews from local companies, and my linkedin is blowing up with big company recruiters messaging me. Honestly it makes me feel a little good about myself, especially since I know that with all this interest in me the wife and I won't go hungry.
As of right now the only person that is worried about the startup failing is the CEO, since he is a business/finance guy, and there is a smaller demand for that. Makes me wonder how many startup founders that are business people get laid off after a startup gets acqui-hired for the tech talent.