As you stated elsewhere, the explanation for this was that it insulated them from the pressure of takeover offers. Getting offered 6 billion for a company you s

As you stated elsewhere, the explanation for this was that it insulated them from the pressure of takeover offers. Getting offered 6 billion for a company you started 2 years ago must be an incredibly difficult thing to turn down, so taking some equity out allows you to make decisions that you think are best for the business without worrying so much about your personal risk profile and so on.