[ummonk]

If you look at total comp as a function of preferred investment price - exercise price, startup employees are underpaid left relative to big company / deck orb employees (or in other words, are overpaying for shares relative to investors). This is of course not considering any risk premium that employees would have due to inability to diversify.

Do you believe prospective employees, often with little experience in the startup world, can do a better job of picking winners than VCs can?