True, but I'm guessing the lower-level employees not so much after you take out all the money for the preferred shareholders, even the ones who invested at crazy valuations.

Edit: Maybe they arent so screwed after all, depending on how the retention bonuses are dished out.

Funny, I thought the exact opposite.

He invested $7 million and five years of sweat to come out with $39 million. If he was a passive investor, a 5x return would be decent. But he also poured five years of his life into the company, earning (presumably) a below-market salary and working 3x as much as a "normal" job.

Mind you, I don't think he's devasted at the result, but I bet he bad been hoping for much, much more.