If everyone gets 2x shares/options, there's no change in ownership -- someone lost out, otherwise they wouldn't do it. And preferred shares are tickets for the

If everyone gets 2x shares/options, there's no change in ownership -- someone lost out, otherwise they wouldn't do it. And preferred shares are tickets for the front of the line, and quite possibly with onerous terms that aren't public (whether it's a multiplier, or something else). Between a lowered valuation and more shares given to investors and the burden of a high valuation..... things don't look bright for the future of Zenefits, and especially not their employees.