An article about startup employee stock options that doesn't mention the effect of liquidation prefs and only mentions dilution extremely briefly is really miss

An article about startup employee stock options that doesn't mention the effect of liquidation prefs and only mentions dilution extremely briefly is really missing a huge amount of what anyone needs to actually value stock options. On a quick scan this doesn't look terrible [1], although it's focussed on the founder's perspective rather than the employee's. [1] https://www.joinarc.com/guides/liquidation-preferences https://www.joinarc.com/guides/liquidation-preferences