> Also, share price obsession can sometimes worse in a no liquidity situation than it is in a liquid "price-ticker" scenario. Imagine being an early employee @

> Also, share price obsession can sometimes worse in a no liquidity situation than it is in a liquid "price-ticker" scenario. Imagine being an early employee @ uber. You "own" 0.x% of $50bn, but no have other assets. If uber doesn't IPO, you don't get anything. You are way too invested in a very risky stock. Scary, especially in bad times. Usually employees get salary as main compensation, then after that some options or other incentives. I have never heard of a compensation scheme where there wouldn't be any salary at all (for normal employees). I think it makes sense for employee to evaluate some valuation for the company stock, and decide for which valuation to accept the options/stocks as substitute for cash. Often the problem is that the employee lets the company do the valuation and takes that for granted. Very commonly employees are very risk-averse so it might make sense to valuate the options/stocks near zero. In that case it makes sense to just prefer salary and only take stock/options that would be granted in any case.