[tptacek]

"Not worth more than being laid-off" would be hyperbolic, but I'd guess that your private company non-preferred shares are worth a lot less than you think they are. I have stories from real, "successful" companies that screwed over everyone not currently on staff on exit. It's not hard to do.

[codexon]

If shares of your company were undersold and you lose controlling interest in the process, that is your own fault. Founders usually have a different class of stock which has more voting rights per value.

This is like an employee accepting a $10/hour contract, and then complaining later that it was too low.

[tptacek]

Founders don't usually get preferred stock.

[codexon]

You are correct. I meant to say that founders usually have a different class of stock that has more voting rights, rather than higher liquidation preference in case of bankruptcy.

[tptacek]

Liquidation preferences aren't about bankruptcy.