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I’ve been at various startups for over 10 years. My stock options have a cumulative value of $0

Same. My net is the -$200 I spent exercising options in my first startup.

I'm currently on my fourth because it's good experience and I needed a job after being laid off from a larger company. I'm a exec and have a decent amount of options and the company has customers and a path to profitability, but I'm still not counting on those options being worth anything.

Of my previous 3 startups. 2 were acquired and one is still chugging along and making a small profit with no exit plans. Total value of my stock was the aforementioned negative number.

Join startups for the experience, not for the paper money.

I’m on the same boat, plus the startup I helped co-found later found a loophole to steal my 20% of equity. Startups are a scam.

Sorry to hear that. What was the loophole?

Care to elaborate?

Pay to exercise options and pay for imputed taxes. In a year or two company folds and you get nothing.

Yep this ^^^

If they only give you 90 days to buy your options when you leave the company, don't bother working there. Its a scam.

Nailed it.