Yep. 409a assigns common shares (your options are last money out) as 20-30% of investor's preferred shares (first money out) in seed-stage co's. Given today's g

Yep. 409a assigns common shares (your options are last money out) as 20-30% of investor's preferred shares (first money out) in seed-stage co's. Given today's giant series a/b that far outstripe their revenue, probably still high for most flashy co's. Am curious if/when they typically meet. By the time a co switches to RSUs, sure, but when before then - enough fit for funding growth w/ < 2yr payback period?