[jedberg]

This has been my observation as well. VCs have gotten really good at extracting maximum value (and leaving a bit for the founders since those are the people they are negotiating with). Sometimes even the founders don't realize how their employees are getting diluted because the deals are so complex.

Back in the 90s they weren't as good at it, so everyone made retirement money. But now you're not making retirement money unless you happen to work for the next Facebook or AirBnb. Basically unless the founders are making 10 figure exits, you aren't making much at all.