I would truly, honestly treat that equity as I would a portion of my compensation being paid with lottery tickets. Unless there's a liquid secondary market for it, it's not worth anything to me.
I would, honestly not be able to treat it as lottery tickets and would rationalize it into the compensation at a higher rate than it is probably worth. Just being real.
A seed stage startup? Sure. But if Uber made you an offer tomorrow, would it really be prudent to value the equity at $0?