Multiply equity by success rate to get rough average return as baseline comparison figure - best not to assume you've found the special case. Weigh risk according to short- and long-term financial goals, if figures are particularly close.
Request for a friend: solid tips/write-ups on making smart decisions around cash/equity tradeoffs
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Not all equity is created equal. So it depends a lot on what you are talking about. But see https://www.quora.com/For-startups-that-allow-you-to-trade-salary-for-equity-whats-the-typical-formula-used …
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