In theory, founders get commons too, so same math applies (with higher %). In practice, sometime founders get themselves better deals, e.g.: http://allthingsd.

In theory, founders get commons too, so same math applies (with higher %). In practice, sometime founders get themselves better deals, e.g.: http://allthingsd.com/20111001/vcs-unite-chamath-palihapitiya-decries-airbnbs-recent-112m-funding-for-excessive-founder-control-and-cashout-in-email/ http://allthingsd.com/20111001/vcs-unite-chamath-palihapitiy... There is also some tax workaround that leaves founders much better off: usually their payout are only taxed as long term financial gains, which is a much lower bracket.