[lsc]

to follow up:

> But, I know too many people that discovered only upon an exit, that the financial reward was never destined for them.

When I interview at pre-ipo companies, they usually tell me how many options they are giving me and a per-option strike price, but no idea of how many outstanding shares there are.

In this case, I think it's deeply irrational to assume that you are getting anything at all; if a professional is offering you something of value as an inducement, they are going to make damn sure you know what that value is.

The upshot is that when you interview at these companies, make them compete for you on salary, benefits and working conditions. If they also want to give you a mystery box, that's cool, but understand that it's a mystery box, and probably won't be worth much at all even if there is an exit.