[benjaminwootton]

I agree with much of this. Take the question to the investors and board, ie that your personal upside is being cratered and everyone is going to be pulling in different ditections.

If you have done and are doing a good job then everyone should want to put the right incentive plan in front of you.

Maybe you have to own the fact that valuations are down and the financing structure isn’t optimal, there is not really anyone to blame for that and a drop from the 20s to the 10s might be something you need to take on the chin. It’s still a good chunk of change.

Could you also look at pulling a some liquidity out during the next fund raise, with the above context set out. Most investors would appreciate the value of giving you some liquidity if you are still the guy to run it.