> My point is to realize you're actually significantly disadvantaged. That's true, but it shouldn't lead to valuing equity at $0. Before worrying about the im

> My point is to realize you're actually significantly disadvantaged. That's true, but it shouldn't lead to valuing equity at $0. Before worrying about the impact of cap table structure you should also understand how and when they get that way - it really shouldn't be at the beginning (and if they won't show you some details then, walk away).