Besides, how many fresh-faced twenty something employees at a startup understand the fine print — things like liquidation preferences (optional, participating,

Besides, how many fresh-faced twenty something employees at a startup understand the fine print — things like liquidation preferences (optional, participating, stacked and so on), ratchets, valuation caps, and so on? If people are signing up for something without really understanding the tradeoff, then the argument that they are taking more risk for more reward falls apart. It would be more accurate to say that they are being taken advantage of.