Aye, it's not a diverse investment. Especially if you consider your employment a form of investment.
Having said that, one year out of university is a good time to take as much risk as you like so its not too important at that stage.
It may even help motivate if you know you will benefit financially if your company does well
[1]http://www.quanthome.com/index.php?option=com_content&view=a...
It can make sense if you have a significant impact on the performance of that stock. It's pretty common to give the C-level executives a lot of stock in the hopes that they drive up the value of that stock. This is also what activist investors do; buy a lot of stock, get a position on the board, try to drive up the share price.
However, anyone taking advice from HN comments isn't in one of these situations.
I think this would be different if an engineer went to work for GOOGL at age 35. At that point their assets would be diversified across various equity and/or real estate holdings and the GOOGL shares would represent a large but not overwhelming portion of their equity holdings within their greater portfolio of assets.
- (I don't actually own any M:TG cards, which I use here as a glamorous stand-in for my actual hoarde of obscure tabletop RPG's, bits of electronics that could one day be synthesizers, and books about representation theory.)