Dan Luu

It may take 5 years before the world believes in the gap, at which point we'll see acceptance of the lawyer gulfhttps://twitter.com/danluu/status/869755905621073921 …

Also, I totally agree with you about the knowledge gap between employees and VCs about valuation and options classes.

The article conveniently hand-waves that away, which is a non-trivial dismissal.

Something else I'm curious about is how much 7 or 10 year exercise windows change attrition (compared to 90 day).

Ben implies that startup attrit is because people rationally walk away from options they can keep, but in fact most people lose options...

...when they walk and they still do it. Most unicorns, even ones not having their valuations marked down, have (IMO) high attrit

Empirically, the almost all unicorns have 90-day exercise windows and attrit is still v. high, so attrit cannot be as claimed in article

Despite living in diff locations and having diff social circles, I think we know >= 1 person in common who's walked away from a lot of .