That's why I said "part-employee-owned" and not "majority employee owned."
(FWIW, at least back in the early 2010s when I started a company, reserving 20% of the company for employees was pretty standard for early-stage startups. It's possible things have changed though, and it's true that dilution will drop that number.)
(FWIW, at least back in the early 2010s when I started a company, reserving 20% of the company for employees was pretty standard for early-stage startups. It's possible things have changed though, and it's true that dilution will drop that number.)