It assumes that the total amount of money raised over all rounds will be $41 million, rather than that the seed round valuation is $40 million. All the investo

It assumes that the total amount of money raised over all rounds will be $41 million, rather than that the seed round valuation is $40 million. All the investors, whether they came in before or after the employee joined, will still get their money back before the employee starts to profit.