One thing worth thinking about: after a couple of years of issuing options, people start being able to vest, and their presence (or not) on the cap table is a p

One thing worth thinking about: after a couple of years of issuing options, people start being able to vest, and their presence (or not) on the cap table is a pretty interesting signal about people's expectations of the business. Especially if you have a few people leaving, with their options lapsing: to me, that's a big red flag you wouldn't otherwise have. I think we're going to start seeing fewer (and worse) options schemes in tech, but I don't think it's going to be anything to do with how attractive or not they are to potential employees. It's going to be because founders and investors find them less attractive to give out (for reasons like the above).