I have worked at companies where more balanced policies obtained. For examples, founders paid themselves the current median engineering salary; but no raises we

I have worked at companies where more balanced policies obtained. For examples, founders paid themselves the current median engineering salary; but no raises were offered to engineering staff. So who ended up with the paycut? I don't think the author is saying all startups are pushing disproportionate risk on to the employees -- only that most are. To be able to make an argument like the author is making, we can't work from one or two individual experiences -- which is what both you and I are doing with our examples -- but rather take in the field as a whole. Standardized agreements and standardized terms provide such an aggregate view; they are the best estimates of informed participants as to what they can get away with. The point about inflexibility as regards equity compensation is a bellwether.