About a year ago Fred Wilson said straight up that common stock is unreliable and not suitable for investors. Since employees get common stock, the only point

About a year ago Fred Wilson said straight up that common stock is unreliable and not suitable for investors. Since employees get common stock, the only point of leverage they have is their commitment to future employment. Thus buying options when leaving can be a risky proposition - not only is there risk of failure, there is the risk that the company's value gets laundered into retention packages.