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What's the mechanism that would allow a company to attract highly qualified late-comers via equity- even in the 23rd hour in order to help make the exit happen- without upsetting the fairness? (not saying this is a flaw- just would rather you spell it out since you're a math genius) (seriously, he's a math genius- I saw his CV).

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Late-comers would, like everyone else who stuck around until the exit, vest 100% on exit (ignoring things like cliffs for now). This might seem a little unfair given they didn't put in much time, but of course you get to play with the size of the option grant, and make it big or small depending on how highly qualified they are and how much they're really adding to the exit.

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