Yes, but the default is set to the employee getting 0.01% of a company that raised series A. That's a very pessimistic percentage. Think of it this way: the startup could hire 100 employees, each at 0.01%, and only give up 1% of its total equity. That's way too low.

Typical grants for post-series A employees (the 10 to 50 first employees) are at least 10X more than that. With that calculator, you get something (~ $20K) for a $40M exit. Not 0. Not amazing either.

That is correct! Rather than try to distinguish the Series A startups that exit during Series A from Series A startups that are going to raise more money before exiting successfully, I just assumed that every company raised the average amount that a successful startup raises. That average isn't stage-specific either.

This was one of the places where the model could be a lot more accurate, but at the cost of much more complicated math.

The "How We Guesstimate" answers this.

  (Exit Price < Money Raised) ? $0

And the site is assuming the company raised $41M in funding.

that's because of liquidation preference. they assume the company has raised $41M