>Lesson: don't join a startup unless you get preferred stock. Who gives out preferred stock to employees? I don't even know that founders get preferred stock,

>Lesson: don't join a startup unless you get preferred stock. Who gives out preferred stock to employees? I don't even know that founders get preferred stock, generally. If any employee asked for preferred stock at any company I've ever worked for, you'd immediately end the conversation, whether you were an engineer or C-level. All stock grants have to be approved by the board, and I don't know of any board that's going to bend on "hey, we really wanted this engineer, we had to give her preferred shares".