Yes but what about long-term value? I may be wrong but I thought options given to employees don't allow them to sell for some amount of time after an IPO.
6 month lockout is standard, maybe even SEC mandated? Which is plenty of time for initial IPO hype to wear off and the price to crater.
And these new Google hires will probably be on a 4 year vesting plan with a 1 year vesting cliff.