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Re:Who pays when startup employees keep their equity? by harryh on Tuesday July 05, 2016 @07:53PM (#12040334)
He's talking about expected value in the probability sense.

EV = payout * probability

So for cash:

EV = 150k (or whatever your salary is) * 100% (it's guaranteed)

For equity it might be:

EV = 1M * 10% = 100k

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