Cap table evolution is part of that story. I'm not talking about folkloric benchmarks, I'm talking about understanding who holds what now, what the overall cap

Cap table evolution is part of that story. I'm not talking about folkloric benchmarks, I'm talking about understanding who holds what now, what the overall capital needs are going to look like, what that is liable to look like. This is very different at different points in the evolution and and employees should understand that. I don't think we are far apart on this actually, I agree you have to do this sort of evaluation, and that it is fundamentally imperfect. I'm not sure ton how many employees do this or don't, I've know many who do. Many of them fail on the risk-weighting part, and more of them have overvalued their state, ime, than under. If you are really early stage, I also think along with a clear and vetted idea of the numbers the company is going to need to hit is a plan on what to do when that doesn't occur. The more time goes by, the more information you have, the more accurate your EV estimates should be. If they are dropping sharply there is nothing wrong with going back to management and saying this isn't making sense anymore to me, we need to reconsider my comp.