At the last startup I worked for, the VCs sold the company for a loss, so I am just as well pleased that I took five years’ worth of salary instead of a commens

At the last startup I worked for, the VCs sold the company for a loss, so I am just as well pleased that I took five years’ worth of salary instead of a commensurate portion of their loss. Then again, my salary was somewhat below market rates, and the VCs would have collected a management fee in proportion to what they invested, so maybe the VCs did come out ahead.