Anti-dilution for someone who owns 3% of the company can make sense. Anti-dilution for someone with 50% or more of the company doesn't. If 5% of the shares ar

Anti-dilution for someone who owns 3% of the company can make sense. Anti-dilution for someone with 50% or more of the company doesn't. If 5% of the shares are protected from dilution, that still leaves 95% of shares that can flex.