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I just received an offer from a unicorn where over a third of my total comp are ISOs. After reading many posts here about the number of ways they can be worth $0 even in the event of an IPO, I'm not so sure I want to accept.

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I can accept that prospect, but the thing I find the be really messed up is how you can be diluted beyond what you agreed to? It's not a percentage of ownership. They can just issue more shares. I don't get that.

Dilution can happen when investors put money into the company, increasing the value of shares. Does it matter if you own 1% of a million dollar valuation company? Or 0.1% of a 10 million dollar one?

Separately, I haven’t seen an equity grant in terms of percentage of the company, so on paper one never agrees to a percentage ownership anyways.

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