There’s a gotcha here. The VCs can disproportionally dilute early employees that they think are worth less by issuing new shares/options to founders or new hire

There’s a gotcha here. The VCs can disproportionally dilute early employees that they think are worth less by issuing new shares/options to founders or new hires. It’s not true that everyone will always be diluted equally. Someone who isn’t involved in politics or paying attention to investor terms (oh, like an engineer maybe?) is more vulnerable to this.