This argument started with me saying that employees aren't overvaluing equity like they used to. And you are seeming to make the argument that employees are ove

This argument started with me saying that employees aren't overvaluing equity like they used to. And you are seeming to make the argument that employees are overvaluing equity but also valuing it below what the founders could sell it for. I wouldn't call that overvaluing, I'd say employees are correctly and rationally undervaluing common stock due to their undiversified portfolio.