Let's take your $100m exit and do an example. Say you're granted .4% as an A round employee, 30% dilution for a round B, 10% dilution at a round C, then an exit so no round D gives a final ownership percentage of 0.4% * .63 = 0.252%. Say you worked there for four years, you get 100e6 * 0.252 * 1e-2 = $250k before taxes plus strike. Pretax that's a $62k per year spiff, and at best, with good tax advice, $50k / year after taxes. We can quibble about meaningful, but $250k is an ok down payment for a relatively modest $1mm house on the peninsula. We apparently have different ideas about meaningful.
Most startups, even many claiming otherwise pay less than market. You could probably capture at least half that $50k/year in cash, particularly if you're willing to work for goog/fb/msft/etc. That doesn't even touch the variance of that payout.
Also, in expectation and off the top of my head with your success statistics, that $252k is under $50k.
Can't disagree with your math, and that's after a $100M exit.
We too had a low 9 figure exit. Although the money wasn't life changing for employees, the experience was. Winning feels good, man.
a) startups mostly fail, and aren't for most people
b) don't join to get rich, join for the team
c) remember pmarca's insight that market is more important than team for success.
d) whatever the outcome, don't be bitter, or gloat.
Most startups, even many claiming otherwise pay less than market. You could probably capture at least half that $50k/year in cash, particularly if you're willing to work for goog/fb/msft/etc. That doesn't even touch the variance of that payout.
Also, in expectation and off the top of my head with your success statistics, that $252k is under $50k.