You're looking at it the wrong way. For better or worse, people are made an offer when they first start. Stock in a company that is "less of a sure thing" (earl

You're looking at it the wrong way. For better or worse, people are made an offer when they first start. Stock in a company that is "less of a sure thing" (earlier stage) is worth less. So, they must receive more of it to have it correspond to a certain amount of salary they might be missing out on. What happens later is in the future. It's like the employee is an angle investor.