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Yes, SV=Silicon Valley. Startups aren't co-ops (the term "co-op" implies employee governance for example). But employee compensation is heavily loaded towards equity or stock in the employing firm. If you're an early hire at a unicorn, you can make serious money off your ownership share in the company. It helps align the incentives of the employees and management. Press coverage of Silicon Valley doesn't usually mention it, but employee ownership is a huge part of the culture.