Employee Equity
I've worked at two startups, including one YC.  Both were acquired by larger tech companies.  I was employee #3 at one and rebuilt most of a broken codebase in the other.  I got nothing out of either WRT options.  I agree with the author on point 4 but I don't think more options are the answer, I should have just asked for a higher salary I would have been better off.  Startup-bucks are even worse than a lottery ticket, because of tax complications and money required to cover strike price.Now I work at a large tech company in SV and wont be involved in another startup unless I'm a founder.