Interesting to see that people do in fact receive this information. My guess is only the first key hires will be told this and not the rank and file joining af

Interesting to see that people do in fact receive this information. My guess is only the first key hires will be told this and not the rank and file joining after series A, for example. In my experience laughter may be overstating it a bit, but the question is brushed off with an "it's confidential" and you are made to feel slightly stupid for asking. And these weren't fly-by-night operations either, but well-respected startups that went on to do very well.