Yes. All of that said, if you're an insider with equity you'll have access to a 409A valuation, which does take all of that into account when coming up with the

Yes. All of that said, if you're an insider with equity you'll have access to a 409A valuation, which does take all of that into account when coming up with the number. It's closer to what the market will pay for common stock in a theoretical IPO at the time of valuation. It's definitely not in any way what the market will actually pay in a real IPO.