Since we took outside investment that period is about 5 years. Without outside investment it will take longer, maybe 10 years. Many potential hires don't want to wait that long. They might wait 10 years but only if you get a substantial windfall at that point, not the first small profit share.

Partnerships are more common at consultancy and finance firms where labour generates direct profits. I think they are less suited for product firms where the labour comes years ahead of the revenue. A liquidity event is a great way to bring the 'windfall' forward.

Of course things are not black and white. We choose a 4 year vesting period https://about.gitlab.com/handbook/stock-options There are startups now doing 6, 8, and 10 years. We didn't have a good reason to deviate from the norm, so with our vesting time we stuck to what is usual in order to be an attractive employer and hire the best executives.