" This ultimately factored into my decision to leave, as it never appeared I would have a personal stake in the company." You had a 'stake' it was just in term

" This ultimately factored into my decision to leave, as it never appeared I would have a personal stake in the company." You had a 'stake' it was just in terms of other kinds of benefits. If you join a company after it's well-established, then for the most part, unless it's an 'extremely high growth company' - your stock package isn't going to be worth that much, it's just part of comp. If you joined MC several years after founding, even if they did give you equity, it would be a bit of a nice bonus, and that is all.