If your investors have liquidation preferences, that's not true and can leave founders with nothing depending on the exit.
If there are no liquidation preferences, then you are correct.
If there are no liquidation preferences, then you are correct.
I meant to write founders and employees. Not founders and investors. Sorry. Not sure I screwed that up. The screwup made my statement completely wrong.
Investors, as you helpfully point out, generally have preferred stock with liquidation preferences and hence are "first in line."