[Sloppy]

Every new/subsequent round of funding will dilute your shares or options. If you have good management and investors, they will add "anti-dilution" shares when new funding is taken so early hires are re-incentivized. Stay on their minds via performance and make sure they know you know about "anti-dilution". If they think you are essential they will make sure you stay.

Remember that ALL early investors are diluted when new money comes in. For example the first Angel investor may opt to add more money to new investment rounds to buy anti-dilution shares. Think of your continued contributions as adding more value in return for anti-dilution shares.

That said, getting rich from options is a fool's bet. Take a good salary then save and invest it. You'll be better off and the risk is much lower. You are far too close to the situation right now to judge the likelihood of success for your startup and have no idea how many factors hidden to you will make or break that bet. FTX, Theranos, ...

The reason VCs can play this game is that they have certain advantages and they place 100 bets to one success. You can place only one in that same timeframe. Even they would not play that game.

[hbrn]

Agree with everything except the last bit. As an early employee you have way more influence on company success than investor. You also have way more visibility into it if you decide to jump ship.

Generally speaking, in terms of risk early employee has an unfair advantage over investors (though investors have other ways to mitigate that risk, like liquidation preference).