To be fair, Fred Wilson is not saying that these grants of new stock are appropriate everywhere -- he specifically said he has never seen it happen when a found

To be fair, Fred Wilson is not saying that these grants of new stock are appropriate everywhere -- he specifically said he has never seen it happen when a founder-CEO owned 25% or more of the company and that the cutoff is somewhere around "double digits". If a founder-CEO only controls about 8 or 9% of the company stock then perhaps they ARE just a kind of super-employee of the VCs.