Ask most venture-backed founders why they get 10x more equity than employee #1, 100x more equity than employee #5, and 1000x more equity than employee #15, and you'll get the same answer: "I'M TAKING SO MUCH RISK, IT'S SO HARD TO START A COMPANY, I MADE A BIG MOVE!!!" And

This lib article bemoans that it’s only founders who get liquidity at startups, but it is still worth reading to have another datapoint on how the “risks” capitalists take to found their businesses are elaborate illusions: tech startup founders take millions behind closed doors, even at very early stages.