This article completely glosses over the class of bootstrapped startups where the founders leave their day jobs, invests their time and money in the startup, an

This article completely glosses over the class of bootstrapped startups where the founders leave their day jobs, invests their time and money in the startup, and then start hiring people. That's a lot of risk, so yes, for that class of startups founders should have higher ownership in the company and thus are worth more if the company is worth something. On top of that, these boot strapped startups often pay their employees more than themselves, so on the income front, employees are worth more. This article really underscores the weirdness of incentives that can crop up at venture backed companies. It almost makes no sense.