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I don't get it. One of the biggest memes around the startup scene is that equity is essentially a lottery ticket, and most lottery tickets don't win.

Taking a known cash component with no equity, especially since this is already known and in the open is well established as the safe, "smart" move.

Then you see this hullaballoo about not winning the lottery.

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Well you’re not distinguishing between two situations:

1. Someone chooses not to have equity because they want more cash now, don’t want to risk part of their compensation on equity, etc.

2. The company says their equity will never be liquid so you definitely don’t want it. You accept a cash offer with profit sharing instead. Then they sell the shares for $12 billion leaving you unknown job security and low expected future compensation while they profit off their lies

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