True. This metric is as good (or bad) as any else, a percentage of the company included. You can't predict dilution or stock split (the only startup I joined ea

True. This metric is as good (or bad) as any else, a percentage of the company included. You can't predict dilution or stock split (the only startup I joined early enough to have the strike price of 11 cents which went IPO, did a _reverse_ stock split). But somehow the number of shares granted in a company of 20 ppl with stage-A money and 0 revenues is within 10% of the company with 3000 ppl and doing 300M in revenues. And also within 10% from the company with 200 ppl and 30M in _profits_. Go figure.