The execution that Spivak described that causes the investors to not lose money also causes the employees to not lose money. If the value of a company goes up (

The execution that Spivak described that causes the investors to not lose money also causes the employees to not lose money. If the value of a company goes up (because it is successful) your share price will continue to rise even if your shares get diluted due to additional financing. There is no "I hope they don't fuck me" involved.