It's also easier to defend your stuff when you are sitting in the board room. I've seen it happen to former employees at previous companies; once I even asked

It's also easier to defend your stuff when you are sitting in the board room. I've seen it happen to former employees at previous companies; once I even asked at a meeting if anything was being done about their massive dilution and the CEO gave a prepared spiel that was pretty close to Paul Graham's piece about how VC's like to wipe out angels: http://www.paulgraham.com/startupfunding.html#f9n http://www.paulgraham.com/startupfunding.html#f9n