We are talking about Stripe. It’s not exactly a small startup. The “chance” of a startup making it big is infinitesimal. First only 1 in 10 startups “succeed

We are talking about Stripe. It’s not exactly a small startup. The “chance” of a startup making it big is infinitesimal. First only 1 in 10 startups “succeed”. And “success” means that the VCs didn’t lose money. By the time you join a late stage startup where some of the risk of completely failure are derisked, the chance of outsized gains are also lower. Besides, then we get back a private company, every year I work without the company going public, I’m even less diversified because I am more dependent on the company succeeding. In a public company, I can derisk every six months. And then there is the issue that Stripe employees have to pay taxes but they couldn’t sell their equity to pay for it. In a public company, you can choose to sell shares to cover taxes.