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Startups typically pay less in exchange for equity. This is expected and transparent.

Large and medium size businesses have much more information available to them than their applicants do.

So the way to counteract information asymmetry (if we assume it exists) is to artificially enforce less information on the employers? That can't possibly be the right answer unless there's some systematic bias that leads to worse economic outcomes when employers happen to know a candidate's past income.

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