[lostdog]

If the series B valuation is higher, then AMT will apply on the increase, which can make your tax bill very high (higher than the amount of cash you have in some situations). So waiting doesn't work very well either.

In my opinion, joining startups after Series A and before they switch to RSUs just doesn't work. It is not possible to make it work financially. (Without a 7-10 year exercise window).

I'm not certain what you should do, but consider that if you feel trapped now, you will continue feeling trapped in the future. Also, you may be able use your current equity as leverage in a negotiation for a new role, and get a bigger offer in a company that offers you the equity on fair terms.

Finally, I've heard of secondary markets working for people, but I don't know anyone directly who's used them.