&gt; Anything of value can be traded for or converted into something of equal value. Equity does not have this characteristic. You can’t spend it, you can’t liquidate it, you can’t even trade it.<p>I like that quote. It really illustrates the problem well.<p>Or the idea that you&#x27;d offer them to get the salary bump based on options value.<p>At the end of the day it is a gamble, a promise that _if_ the company gets big, you _might_ get a big payout. The hope and dreams account for so much. People will spend sleepless nights, working for 50% reduced salaries for some hope. That is a nice opportunity for the founders -- sell a dream.<p>Sell it to investors.<p>Sell it to customers.<p>Sell it to employees.<p>Sell it to themselves.<p>The last is key, you have to believe your own lies to start really be convincing to others.