This is so true, especially for startups. Morale was down at the first startup I worked at, so the owner started buying snacks every week. It was nice, but it didn't really help, so he asked us if achievement-based bonuses would help. The entire staff declined, much to his surprise. A coworker tried to explain to him that money wasn't the most important thing to us, but he didn't understand. Mostly, we wanted responsive, fair, and honest management.
"5. Stay off employees' social media accounts."
This was a problem from day one at my last company. Should have been a red flag warning for me from the beginning.